Free Republic

Another mortgage-refinancing boom is under way. But this time around, many homeowners will be watching from the sidelines. For the first time since 2005, mortgage rates have slipped well below 6%, ending last week at about 5.87%, according to mortgage tracker HSH Associates. Some lenders are offering even lower deals. At these levels, about 37% of homeowners could refinance their mortgages and save money on their monthly payment, estimates investment bank Bear Stearns Cos. As rates drop further -- and some expect that to happen if the economy continues to weaken -- increasing numbers of consumers will find refinancing their...

The slumping housing market could get a $200 billion boost from new immigrant home buyers if mainstream lenders start using alternative methods to score credit, a national group of Hispanic realtors said Friday. Creditors like Citigroup Inc.'s Citibank see recent immigrants as a growing market niche, but those who lack Social Security numbers or legal status in the U.S. are often rejected by the three major credit bureaus. A handful of new credit reporting systems already used by 200 real estate brokers, community groups and mortgage counselors nationwide allows them to calculate risk by evaluating a prospective client's utility bills...

This is a letter I wrote to the Department of Insurance several days ago. Please act on this information and get INVOLVED! -JEL To Whom It May Concern: Automobile insurance becomes an oppressive taxation when the State orders the compelled benefit onto the People. The benefit discussed here is "Reduced Automotive Liability". When insurance companies can raise rates based on a buyer's consumer credit rating, it is an act of discrimination as well as an act of tyranny and oppression because the State ordered the People to receive the benefit Without controlling the Corporation, writing the benefits/policies. Credit ratings have...