Interest-only mortgages not for all

Democrat & Chronicle: Business: " Interest-only mortgages have been around for eight decades. But until recently, hardly anybody talked about them � much less obtained one.

But with the real estate explosion in certain parts of the country, where homes are appreciating at a double-digit annual rate, the idea of taking out a mortgage where you pay only the interest on the loan for a set number of years has been garnering broad appeal. "
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New law clarifies Realtor disclosure

New law clarifies Realtor disclosure - The Clarion-Ledger: "If a real estate agent fails to disclose something that doesn't affect the physical appearance of a property, the agent won't be liable under a law that takes effect today.

'The problem until the passage of the law is, Realtors didn't know if they had to disclose or not,' said Scott Brunner, outgoing chief executive officer of the Mississippi Association of Realtors. 'There was no guidance.'

Realtors still have to disclose material factors that might include asbestos or cracks in the foundation, Brunner said. But they would not have to disclose, for example, if a suicide or homicide occurred on the property."
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Foreclosure activity a cause for concern

Foreclosure activity a cause for concern: "Are we blowing bubbles yet? With Fed and bank rate hikes continuing is our housing appetite exceeding our means?
Many pundits maintain that the red hot residential housing market is still far from reaching bubble proportions. But if home mortgage foreclosures are a leading indicator of trouble to come, there might be some cause for concern. Data to be released later this week indicate that the Chicago area's home foreclosures are ahead of the national average, and persistently remain at high levels. "
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U.S. Military Men, Women Victims Of Illegal Home Foreclosures

WSOCTV.com - Special Reports - U.S. Military Men, Women Victims Of Illegal Home Foreclosures: "U.S. service members are finding themselves facing foreclosure, eviction, and repossession of their homes and possessions while they're fighting overseas. A federal law is supposed to protect them, but some companies aren't following the law.
There was a time Drew Halldorson's family dreaded checking the mail. After the National Guard activated Drew for duty in Iraq, the tenant in his rental property fell behind on the rent, which made Drew fall behind on the mortgage. Drew had trouble making up the difference.
'You take a $50, $60, $70,000 pay cut, you have to make some difficult choices,' said Halldorson.
And then the calls began."
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