Muara Teweh!

Twelve people, suspected of being part of a sophisticated white-collar crime ring led by an ex-convict, have been indicted involving a mortgage-loan scam stretching from Arizona to Nevada to California.

The defendants, including a real estate agent, college students and family members living in the three states are accused of defrauding lenders out of $8 million. Group members led the high life by using phony incomes, Social Security numbers, bank accounts and assets to get loans for upscale homes and luxury cars, according to the 38-count indictment handed up by a federal grand jury in Phoenix. » Read more after the jump →

The National Disaster Management Authority (NDMA), in its new guidelines released ten days ago, says that all home loan applicants will have to provide proof that the house they want to buy is earthquake proof. “Financial institutions will consider the compliance of seismic safety before offering housing loans,” the guidelines state.

N Vinod Chandra Menon, member, NDMA, told the Hindustan Times that the NDMA’s guidelines would come into effect from June 30. “The Disaster Management Act 2005 was enacted with approval from both Houses of Parliament. The provisions of the Act are binding on the government,” he said.

A policy decision to this effect could, however, take up to nine months. The finance ministry would have to take a policy decision followed by rules to be issued by the Reserve Bank of India. » Read more after the jump →

You have probably heard of auto refinance before. Or simply refinance. The term actually refers to a financial situation wherein a borrower finds financing to pay off a current loan.

For years now, people have refinanced their homes and saved thousands of dollars. However, the practice of refinancing car loans has yet to be indulged by most. Why? Perhaps the reason is that auto loans generally behave differently from home loans and people are naturally skeptical about new methods. Regardless, auto refinance is still a good choice, provided that the situation is right.

The only way for auto refinance to work is if you get it when the interest rates are low. Low rates typically mean low monthly repayments and this is the situation you should aim for. » Read more after the jump →

Canadian homeowners and investors exploring home equity loans and refinancing for home improvement, investment or debt consolidation can now access hundreds of competitive loan programs though a new resource portal launched by industry veterans, The Mortgage Store Online.

The Mortgage Store Online portal makes mortgage shopping simple, quick and secure. Designed by licensed industry experts, the portal gives borrowers and investors a way to explore home equity and refinancing programs with quick-click online convenience. In just minutes, borrowers can request complimentary, hassle-free mortgage consultations with licensed experts; calculate and compare mortgage rates; and access mortgage brokers more quickly than ever. » Read more after the jump →

Home resales fell to a 5.99 million annual rate, a 2.6 percent decrease from a 6.15 million pace in March, the National Association of Realtors said Friday.

The drop in demand rained on brighter news a day earlier, when the government reported sales of new homes during April surged 16.2 percent.

The 5.99 million pace of existing-home sales was the lowest since the 5.94 million in June 2003, NAR said.

“This suggests the housing market correction will continue, as expected, through at least the remainder of the year,” Lehman Brothers economist Drew Matus said in a note to clients. » Read more after the jump →

Refinancing offers many homeowners the opportunity to restructure their finances and take advantage of mortgage rates, real estate prices, interest rates and tax benefits.

Homeowners refinance their mortgage for a number of reasons including: to convert an adjustable rate mortgage to a fixed rate, converting a higher rate mortgage to a lower one, reducing the term of a mortgage, getting cash for home improvements, tuition, medical expenses, or other needs, and to consolidate debts such as credit cards and car loans.

NationalMortgage.com lenders can help you access your needs and recommend the right mortgage refinance option for you. Our mortgage lenders provide Mortgage Loan programs with the best current mortgage rates and a comprehensive portfolio of options and products. » Read more after the jump →

(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, “Your home is an untapped resource. Refinance your loan with us and you’ll get quick cash to buy a car, fund college or pay off your credit card debt.”

You may have been tempted by the idea, but hopefully you didn’t bite. There are better ways to solve problems with debt. An option you may not have known about but should really consider is debt settlement, the consumer equivalent of a business hiring a turn around specialist to help them settle their debts with creditors and get the company back on track.

“Debt settlement is really the best option available to people who have found themselves in dire straights. If you’re living from paycheck to paycheck, and unable to pay your bills every » Read more after the jump →