Real Estate News
Gee... do you think.. if you are paid on commission, bonus and override this could happen... Interesting Real Estate News items:
A federal probe of Countrywide, the nation's largest mortgage lender, is turning up evidence that sales executives at the company deliberately overlooked inflated income figures for many borrowers, people with knowledge of the investigation say.
I enjoyed this one: Confessions Of A Subprime Underwriter
AND a little good real estate news...
Banks and mortgage companies face fines of $1,000 a day if they allow foreclosed homes to become run down and a source of neighborhood blight under a bill that passed the state Senate on Monday.
Many homeowners facing ARM resets today will find that their interest rates - instead of skyrocketing as predicted - won't change a lot. "If they go up, it won't be much. Some might even be lower," says Steve Cochrane, senior managing director at Moody's Economy.com.







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