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Mortgage News for Monday - January 9, 2006

More Mortgage News
• Mortgage foreclosures jump 17 percent in 2005
• Mortgage company to eventually create 100 jobs
• S.C. is trying to uproot Charlotte's mortgage company
• Reverse mortgage plan offers relief for some senior citizens
• Mega-million-dollar mansions crowd local real estate market
• Refinance Mortgage: Interest-only loans prove short-term fix
Mortgage News
Mega-million-dollar mansions crowd local real estate market - 2006-01-09
No real estate agent likes to say the word "glut." When it's about mansions for the super-wealthy, there's no better word. There are 122 homes priced at $4 million or more available in the market which represents a five-year supply. Just look at the facts: 71 homes in Sarasota County have ever been sold at this level and only 26 were unloaded in 2005.
Read the full story at Sarasota Herald-Tribune
 
Refinance Mortgage: Interest-only loans prove short-term fix - 2006-01-09
Those low introductory terms of very popular interest-only mortgage loan have helped thousands of Bay Area residents purchase homes in one of the country's most expensive housing markets. To avoid higher monthly payments when interest rates go up, it's time to look into a fixed refinance mortgage loan
since long term rates are still attractive.
Read the full story at Inside Bay Area
 






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