California | Home Loan | Mortgage | Refinance

The average rate for a 30-year fixed loan was 4.32 percent this week, down from 4.36 percent last week, mortgage buyer Freddie Mac said Thursday. That’s the lowest since Freddie Mac began tracking rates in 1971.
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mortgage rates fell in the past week to the latest in … which kept overall inflation expectations well at bay,” Amy Crews Cutts, Freddie Mac deputy chief economist, said in a statement. Federal Reserve Chairman Ben …
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UK mortgage approvals rose slightly in July. Ray Boulger from John Charcol considers the outlook for the UK mortgage market.
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A Southwest Miami-Dade woman was busted after police say she scammed investors of $49-thousand, posing as a real estate investor.
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The State of Oregon is actually one of the well-known centers of payday loans. In fact, numerous reports have noted that the Oregon payday loan stores, promising fast and easy cash with the absence of credit check, have greatly popped up on many street corners as well as strip malls in the State of Oregon. They are so many that at a total of 323, these Oregon payday loan stores outnumbered any single fast food chain in the state.

With such phenomenon, a number of lawmakers in the State of Oregon have thought that Oregon should join the 35 other states that highly accepted and regulate payday loan lenders. For that, the State has introduced a certain bill to assist and protect the loan customers from falling too far into their payday loan debt.

Speaking of bill, it is actually the State of Oregon Senate Commerce Committee that considered a bill to limit the interest charges of Oregon payday loans to 15 percent, set a minimum 31-day loan term and require consumers to pay off a quarter of the loan before renewing it.

It is further maintained by some reports that the bill was passed to protect the Oregonians from legal loan sharking, thus made some people think that it would lessen fees for renewing the Oregon payday loans. It has even been noted that those Oregon payday loan borrowers who can’t pay off the Oregon payday loans may face renewal charges if they “roll over” the amount, which according to the Oregon payday loan regulations they can do only three times at one lender.

Furthermore, many of the critics of the Oregon payday loan businesses have stated that those payday loan borrowers who reach that limit can only go to other Oregon payday loan lenders and start over with a new loans that are most secured by post dated checks to correspond with the paydays.

The State of Oregon is actually considered as one of the eight states that have certainly no cap on the Oregon payday loan interest charges. This claim, as numerous reports have noted, actually came from the Oregon Department of Consumer and Business Services, which specifically regulates the industry that operates and functions generally more than 320 loan shops in the State of Oregon alone. It is further noted that this agency supports the Oregon payday loan regulation bill to cap the interest rates of payday loans at 15 percent.

However, as things commonly work, there are some opponents for such Oregon payday loan bill. They said that payday loans generally welcome service to those who are actually temporarily strapped for money and even to those who can’t obtain conventional loans. As a support for this, it has been reported that Mike Dewey, an Oregon lobbyist for the Consumer Lending Alliance, which is a group of payday lenders in 22 states, said that borrowers of the Oregon payday loans often look at loan charges as flat fees of $15 to borrow $100, for instance, and not actually on the terms of the annual interest costs perhaps due to the reason that payday loans are for far shorter periods.

As it turned out, the Oregon payday loan regulation bills have been introduced but have failed. Oregon now is one of only handful of states without laws regulating how much can be charged for the Oregon payday loans in general.

Mortgage applications rose 2.7 percent last week as more borrowers took advantage of the lowest rates in decades to reduce their monthly loan payments, the Mortgage Bankers Association said Wednesday. The …
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A New Jersey mortgage broker and former head of the Bergen County Improvement Authority has been indicted by a federal grand jury on charges of preparing fraudulent mortgage applications. Forty-seven-year-old Upper …
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