MORTGAGE RATES As investors’ fears that the Federal Reserve would soon tighten credit policy to stall inflation lessened, mortgage rates fell this week: 30-year mortgage rates averaged 6.26 percent, the lowest level in six weeks, according to Freddie Mac. COUNTRYWIDE A handful of states are suing Countrywide Financial Corp. for misleading borrowers, and Florida initiated [...]
Naples Real Estate News 07/01/08
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COUNTRYWIDE Florida Attorney General Bill McCollum filed a lawsuit against Countrywide Financial Corp. Monday for misleading and unfair trade practices. “It is unthinkable a company would try to take advantage of someone’s dream of homeownership,” says McCollum. Meanwhile, Bank of America’s purchase of Countrywide Financial Corp. is expected to become official today. Listen to the [...]
Naples Real Estate News 06/25/08
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MORTGAGES No downpayment mortgages have largely disappeared as a financing option from private lenders. But they are still available – and growing more popular – using existing Federal Housing Administration programs in conjunction with nonprofit groups’ downpayment assistance programs – Nehemiah Corporation and AmeriDream. FLORIDA CONSUMER CONFIDENCE Higher gas and food prices, continued declines in [...]