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News about Mortgages:

How and why mortgage fraud is growing - Philiy.com
With the number of home loans shrinking because of the subprime meltdown and resulting tight credit, logic says mortgage fraud would be declining. But a report this week by the Mortgage Asset Research Institute, of Reston, Va., showed fraud rose 65 ...

Online sales spike, mortgage action push stocks up - St. Louis Post-Dispatch
NEW YORK — Stocks rose for a second day Wednesday as a jump in online spending and a record increase in mortgage applications lifted retailers and banks, overshadowing concern the worsening recession will reduce demand for commodities. Amazon.com ...

Fla. called No. 1 in mortgage fraud - St. Petersburg Times
TAMPA — A national report released Tuesday said Florida leads the nation in mortgage fraud. Within the state, Tampa is second in the amount of suspicious loan activity. As the report was being released, a federal jury in Broward County was ...

Mortgage deals with Beach company put owners out of homes - HamptonRoads.com
It was Delisa Mackey's dream home: a tidy two-story house with a two-car garage on a quiet Suffolk cul-de-sac with a patch of woods out back. It was built brand-new to her specifications in 2002, and her name was on the deed. No more renting for this ...

Reverse mortgages a lifeline for seniors - San Diego Union-Tribune
Betty Falling is among a growing number of seniors using a reverse mortgage to avoid foreclosure. “I was in a bind,” Falling said. Seniors traditionally have used reverse mortgages to maintain their standard of living in retirement by tapping ...

Wall Street rallies for 2nd day - Business Times Malaysia
NEW YORK: US stocks rallied for a second straight day yesterday after reports on robust online holiday spending and a surprise jump in mortgage applications offset a batch of dismal economic data. The Dow Jones Industrial Average powered 172.60 ...

Wall Street rallies on hopeful spending, housing reports - Channel NewsAsia
NEW YORK: US stocks rallied for a second straight day on Wednesday after reports on robust online holiday spending and a surprise jump in mortgage applications offset a batch of dismal economic data. The Dow Jones Industrial Average powered 172.60 ...

Signs mount of deepening recession - Austin American-Statesman
WASHINGTON — The latest evidence of a deepening recession that's already the longest in a quarter-century came Wednesday in a pair of reports that found little relief in sight. The U.S. service sector shrank far more than expected in November, as ...

Desperate Times, Desperate Policies - Forbes
Awful news has greeted Americans in recent days: free falling consumption spending, collapsing new home sales, falling consumer confidence, very high initial claims for unemployment benefits, collapsing orders for durable goods. It is hard to get any ...

Deals with Beach company put some owners out of homes - HamptonRoads.com
Delisa Mackey of Suffolk carries some belongings to her car in September. She lost her home, seen in the background, after a mortgage- refinancing arrangement failed. When she learned that the straw buyer of her home faced foreclosure or bankruptcy ...

Today's Mortgage Terms starting with V

VA Loans: Fixed-rate loans guaranteed by the U.S. Department of Veterans Affairs for the purpose of making housing affordable to eligible U.S. veterans.

Variable Rate: Interest rate that changes periodically in relation to a specific index such as treasury bills and the prime rate.

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