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BUSINESS
By Robert Nusgart and Robert Nusgart,SUN REAL ESTATE EDITOR | February 21, 1999
Yes, we've heard that it is going to be "big, really big," but the question for those in the market for a home mortgage is whether going the Priceline.com route will be better.Priceline.com, the Internet site where "you name your own price" for such items as airline tickets and hotel rooms, has expanded its offerings to mortgages, home equity loans and refinancings. The company has joined with LendingTree, an online mortgage broker in Charlotte, N.C., to provide the means for applicants to name their own mortgage terms -- such as an interest rate -- and to have a network of lenders bid for their business.
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NEWS
By Amanda Yeager, ayeager@tribune.com | January 3, 2014
The Howard County Housing department will start accepting applications for the county's Moderate Income Housing Unit program on Thursday, Jan. 2. The January open enrollment period for the program will end Friday, Jan. 31. The MIHU program requires housing developers to sell or rent a percentage of new units to moderate-income households. To offer more information on the MIHU program, the Housing department will also host a free "MIHU Buyers and Renters Workshop" on Tuesday, Jan. 14 from 6 p.m. to 7:30 p.m. at the Gateway Building in Columbia.
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BUSINESS
January 24, 1993
Depreciation rate set by mobile home's useQ: I recently purchased a single-family mobile home that I intend to use as a rental. At what rate may I depreciate the home? Does it qualify as a vehicle, or do I treat it as a piece of real estate?A: A mobile home used as a residential rental must be depreciated over the 27.5-year schedule used for real estate.The reason a mobile home used as a rental does not qualify for the seven-year depreciation schedule afforded vehicles has nothing to do with whether it is a vehicle or a piece of real estate.
NEWS
Marta H. Mossburg | December 4, 2012
State media keep talking about the fiscal cliff as if it will obliterate Maryland's wealth if Congress does not reach a compromise on debt talks. The truth is, cuts are far down the road if they happen, and Maryland will continue to thrive as an extension of Washington's bureaucratic complex. There is an imminent financial crisis in Maryland, however: state debt. According to the nonpartisan nonprofit State Budget Solutions, the total debt of Maryland is almost $82 billion. (www.statebudgetsolutions.org/publications/detail/state-budget-solutions-third-annual-state-debt-report-shows-total-state-debt-over-4-trillion)
BUSINESS
By Knight Ridder/Tribune | October 3, 2004
Even with recent interest rate increases by the Federal Reserve, home mortgage rates remain low. Is the time right to buy a new home? Perhaps. But first, it might be a good idea to get up to speed on how mortgage loans work, especially if you are a first-time buyer. Web sites that provide insights about qualifying for a home loan and obtaining a mortgage include: Bankrate.com (www.bankrate.com/brm/news/real-estate/tips-new-home1.asp), which offers a variety of mortgage cost-saving tips.
NEWS
By FREDERICK N. RASMUSSEN and FREDERICK N. RASMUSSEN,SUN REPORTER | March 3, 2006
A memorial service will be held at 2 p.m. tomorrow at Ladew Topiary Gardens, 3535 Jarrettsville Pike in Monkton, for Bolling Barton "Bo" Willse Jr., who was killed Thursday in a private plane crash near Austin, Colo. He was 24. Also killed in the crash of the Cessna 182 Skyline were his flying instructor and an unidentified passenger, Federal Aviation Administration officials said. Mr. Willse was born in Baltimore and raised in Lutherville and Monkton. He was a graduate of the Jemicy School and graduated in 2000 from Gilman School.
BUSINESS
October 29, 2000
Piper receives award for community service Jim Piper, executive vice president of O'Conor, Piper & Flynn ERA, has received the annual Community Service Award from the Maryland Association of Realtors. Thirteen Realtors from across the state were nominated for the award, which the MAR gives based on general community service. Piper is co-chairman of the Baltimore Mentoring Partnership and director of the Baltimore Efficiency and Economy Foundation. In the past, he was president of the Baltimore County Chamber of Commerce and served on the board of directors for the Maryland Chamber of Commerce.
BUSINESS
By David I. Turner and David I. Turner,Knight-Ridder News Service | March 1, 1992
PHILADELPHIA -- You've applied to refinance your home mortgage, but you're having second thoughts. Maybe interest rates have floated too high, or you've decided to move instead. You may be able to back out of the process, and get all or most of your money back.Many lenders say they will work with applicants who get cold feet to agree on what happens to any fees or other payments.lTC "We're anxious to do right by our customers, and if the market has changed significantly since they applied, then we'd proceed to negotiate," said Linda Klein, regional vice president of Countrywide Funding Corp.
BUSINESS
By Kenneth R. Harney | September 3, 1995
Washington -- Congressional debate over banking legislation is focusing fresh attention on one of the most potent -- but little-understood -- federal consumer protections for home mortgage borrowers.The protection is the "R" word: The right of rescission or complete cancellation of a home loan financing. To lenders it is the functional equivalent of a nuclear meltdown on a loan transaction. To some borrowers it can be a lifesaver -- preventing TTC the foreclosure sale of a home at the eleventh hour.
NEWS
By Jamie Smith Hopkins, The Baltimore Sun | June 27, 2012
A Crofton man was sentenced Wednesday to more than four years in prison for redirecting about $5 million in mortgage payoffs on 17 Maryland properties to himself and a co-defendant, according to federal prosecutors. Todd R. Bettin, 42, was assistant manager of At Home Mortgage when he conspired with the owner of a Gambrills settlement company to illegally benefit from money intended to pay off clients' mortgages, the Maryland U.S. attorney's office said. Starting in 2007, Bettin and co-defendant Gary Pierce — now sentenced to six years in prison — diverted or held onto payoff funds from mortgage closings for days, weeks or years, according to the Maryland U.S. attorney's office.
NEWS
By Jamie Smith Hopkins, The Baltimore Sun | June 27, 2012
A Crofton man was sentenced Wednesday to more than four years in prison for redirecting about $5 million in mortgage payoffs on 17 Maryland properties to himself and a co-defendant, according to federal prosecutors. Todd R. Bettin, 42, was assistant manager of At Home Mortgage when he conspired with the owner of a Gambrills settlement company to illegally benefit from money intended to pay off clients' mortgages, the Maryland U.S. attorney's office said. Starting in 2007, Bettin and co-defendant Gary Pierce — now sentenced to six years in prison — diverted or held onto payoff funds from mortgage closings for days, weeks or years, according to the Maryland U.S. attorney's office.
BUSINESS
Jamie Smith Hopkins | June 22, 2012
If you're a local Bank of America borrower behind on your home mortgage, chances are you've received an invitation to come chat in Baltimore. The company is holding a foreclosure-prevention event next Thursday through Saturday -- June 28 through June 30 -- at the Baltimore Hilton for customers whose loans it services. It's one in a series of face-to-face events that Bank of America and other mortgage servicers have put on. In other cases, they've participated in events organized by groups or political leaders . The appeal of in-person?
FEATURES
By Jill Rosen and The Baltimore Sun | March 30, 2012
In the running for the Nicest Boss in Maryland award is this guy, who just bought 200 Mega Million tickets and promised to share the winnings -- in a big, big way, with his workers. Dennis Kane of Kane Construction said he was the only winner, he'd pay the mortgages off of everyone in his company. And that was before he knew the jackpot was up to $640 million. Maybe now he workers will also get cars. Cost of tickets: $200. Value in corporate good will of making a pledge like this: Priceless.
NEWS
By Jamie Smith Hopkins, The Baltimore Sun | November 9, 2011
State regulators said Wednesday that they have ordered a large mortgage broker to stop making loans to Marylanders after federal investigators alleged the company had violated lending rules. The U.S. Department of Housing and Urban Development announced last week that it was no longer allowing Allied Home Mortgage Corp. to originate loans insured by the Federal Housing Administration because it said the company had played "fast and loose with FHA's standards. " The Justice Department is alleging mortgage fraud in a lawsuit against Allied.
NEWS
By Larry Carson, The Baltimore Sun | March 10, 2011
Prospects for rising income tax revenues are improving for Howard County, an economist told the county panel that will recommend spending and borrowing decisions for the next county budget, though dangers of a renewed decline remain potent. "For the next two years, off a low base of incomes, this county looks pretty good, we think," economist Anirban Basu told the county Spending Affordability Committee on Wednesday morning at the George Howard Building. "That doesn't mean the county should go on a spending frenzy … but things will be less worse.
NEWS
By John O. Fox | January 25, 2011
As Congress considers "spending cuts" to address our massive annual deficits, lawmakers should acknowledge what their own nonpartisan Joint Committee on Taxation has revealed for decades: Most nondefense discretionary spending occurs through tax breaks, thanks to our federal income tax laws. Recently termed "earmarks" by President Barack Obama's bipartisan National Commission on Fiscal Responsibility and Reform, more than 100 tax breaks save households about $1 trillion annually in federal income taxes.
BUSINESS
By BLOOMBERG NEWS | July 17, 2005
WASHINGTON - An index of home mortgage applications fell after reaching its second-highest level in more than a year, a private group's survey showed. The Mortgage Bankers Association's measure of home purchases and refinancing declined 7.2 percent to 791.9 in the week ended July 8, which included the July 4 holiday, from 853.4 the week before. The group's home purchase index fell 6.1 percent to 489, still above an average of 455 last year, when sales were the highest ever. "If you look at mortgage application data as of last week, we were pretty much on historical highs for the purchase index, which does suggest continued strength," said Stephen Stanley, chief economist at RBS Greenwich Capital, before the report.
NEWS
By Amanda Yeager, ayeager@tribune.com | January 3, 2014
The Howard County Housing department will start accepting applications for the county's Moderate Income Housing Unit program on Thursday, Jan. 2. The January open enrollment period for the program will end Friday, Jan. 31. The MIHU program requires housing developers to sell or rent a percentage of new units to moderate-income households. To offer more information on the MIHU program, the Housing department will also host a free "MIHU Buyers and Renters Workshop" on Tuesday, Jan. 14 from 6 p.m. to 7:30 p.m. at the Gateway Building in Columbia.
BUSINESS
By KEN HARNEY and KEN HARNEY,kenharney@earthlink.net | February 8, 2009
Proponents call it the crucial missing tool needed to get us out of the national foreclosure morass. Critics say it could be disastrous - pushing up interest rates on all future mortgages, even for people with excellent credit, and creating huge new losses for already-ailing banks. Wherever you come down on the griddle-hot issue of home mortgage "cramdowns," the reality is this: Congress is poised to pass legislation empowering bankruptcy court judges to reduce the loan balances of potentially large numbers of financially distressed owners to affordable levels, and to lower their interest rates and monthly payments.
NEWS
By Josh Mitchell and Josh Mitchell,Sun reporter | January 4, 2008
UPPER MARLBORO -- The mortgage crisis roiling communities across the country is being acutely felt in Prince George's County, where thousands of residents -- many lured in recent years by relatively affordable real estate prices -- are in danger of losing their homes. Middle-class homebuyers flocked to the county in the early part of this decade as prices in other Washington-area suburbs surged. Now, scores of families face the threat of foreclosure, throwing one of the nation's wealthiest majority-black suburbs into what state and local officials who gathered here yesterday called an emergency.
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