Property Owner

Saving money on your mortgage can be hassle-free and easy with the right advice and follow-through. According to Jane Slack-Smith, director of Investors Choice Mortgages and founder of yourpropertysuccess.com.au, “The first step towards trimming your mortgage debt burden is to tweak your mindset.”

A lot of consumers merely look at interest rates when shopping for a home loan. Slack-Smith advises that it’s just as important to look at the loan features. Take for instance the case of potential borrowers who would baulk at the suggestion of paying a professional annual package fee of $400 when in fact, said  agent fee could save them more money if they learn the many options available.

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NEW DELHI: The government on Tuesday raised the housing loan ceiling for availing one per cent interest subsidy to Rs 15 lakh from existing Rs 10 lakh, a decision that will benefit borrowers by up to Rs 14,865 per annum. A meeting of the Union Cabinet approved the proposal to give one per cent interest subsidy for home loans of up to Rs 15 lakh provided the actual cost of the house is not exceeding Rs 25 lakh. Under a scheme introduced in 2009, home loan borrowers are getting one per cent interest subsidy on home loans of up to Rs 10 lakh, provided the cost of the house did not exceed Rs 20 lakh. “A budgetary provision of Rs 500 crore has been made for the financial year 2011-12 for implementing the scheme,” the Minister of State for Information and Broadcasting Ambika Soni reporters after the Cabinet meeting. Read full article…

The phrase “The rich get richer, while the poor get poorer,” has never been truer for Canada.

A report by the Organization for Economic Co-operation and Development finds, the gap between Canada’s richest and poorest people is widening.The survey conducted in 2008 found, the top 10 per cent of Canadians earned 10 times as much as the bottom 10 per cent. This 10-1 ratio is above the OECD average of 9-1. The U.S ratio is 14-1. In Ge

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August 4, 2011 |

Though recent reports by CoreLogic and Clear Capital show modest gains in home prices in 2011, property values remain well below year-ago and peak levels, which could continue to slightly depress mortgage volumes.

According to CoreLogics Home Price Index for June, residential values improved 0.7 percent month-to-month. However, on a year-to-year basis, prices fell markedly. Including foreclosure sales, prices slipped nearly 7 percent from the year before. Excluding distressed sales, prices still declined, dropping slightly more than 1 percent from a year earlier.

New York and Washington, D.C.

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