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Residents worry over proposed ...
Residents worry over proposed demolition of Rita-damaged homes
Jan. 26, 2008 BEAUMONT, Texas — Some Southeast Texas homeowners and community leaders are objecting to a state proposal that would require any house damaged during Hurricane Rita to be demolished if it needs more than $25,000 worth of repairs. The proposal is part of the Texas Department of Housing and Community Affairs' action plan to help recover from damages caused by Rita when the hurricane hit more than two years ago. The amended Homeowner's Assistance Program will ...
What the turmoil will mean ...
What the turmoil will mean for mortgages
Jan. 26, 2008 Fixed deals are looking good value, even though interest rates are expected to come down writes Clare Francis BORROWERS should not rule out fixed-rate mortgages, even though the Bank of England is expected to follow America’s Federal Reserve and cut interest rates next month. The Fed slashed rates last week by an emergency 0.75 percentage points and is expected to cut by another half a point when it meets on Wednesday, in an attempt to avert recession. This ...
UK lenders steer away from ...
UK lenders steer away from 100% mortgages
Jan. 26, 2008 Mortgage lenders are withdrawing from offering 100 per cent home loans over fears that such products will now attract a flood of high-risk borrowers. Those lenders still offering 100 per cent deals are now charging interest rates of 8 per cent or more. In recent months, 10 lenders have stopped offering to advance the full value of a property, reducing the availability of these mortgages by almost one third compared with a year ago. But while brokers ...
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