Ft Lauderdale Lifestyle Blog

City Budgets Pinched From Falling Values Many states are having to borrow for necessary expenditures and dip into "rainy day" funds to fill budget gaps and avoid tax increases. Find out the 10 states feeling the tightest squeeze.
Full Story

Lawsuit Claims Countrywide Misled Borrowers Florida is the latest state to join Illinois and California in a lawsuit that accuses Countrywide of unfair and misleading trade practices. Full Story

Mortgage Ruling Could Have Big Impact

The 7th U.S. Circuit Court of Appeals is expected to rule this month on a case that could force the U.S. banking industry to cancel or rescind loans if borrowers prove that their lenders violated a federal lending disclosure law. Full Story

Wave of Subprime Loans Ready to Reset

More home owners are facing an increase in the payment on their subprime adjustable-rate mortgages. Full Story

Wachovia to End Option ARM Loans

Wachovia announced Monday that it would stop offering option ARMs and allow existing option-ARM borrowers to avoid prepayment penalties. Full Story

Celebrities Have Money Troubles Too

Well-known actors and entertainers are finding they aren't immune to foreclosure. Full Story

U.S. mortgage rates fall for first time in four weeks
Mortgage rates reversed course this week, dropping after three straight jumps, Freddie Mac said in its weekly rate survey Thursday. The national average for the 30-year fixed-rate mortgage fell to 6.35% from 6.45% a week ago. Last year at this time, the 30-year FRM averaged 6.63%.
See Mortgages.

Keep your pets cool this summer
Now that the temperature is hot, humans aren't the only ones who suffer from overheating. Dogs and cats actually have a harder time than their owners staying cool.
See Marshall Loeb's Daily Money Tip.

Five tips for borrowers who find their HELOC has been reduced
When Denise Lopez bought two new tables, a floor lamp and a chair recently, her intent was to finance it with her home equity line of credit. But it wasn't long before she discovered that wasn't an option -- her HELOC had been frozen.
See full story.

Fed's overlooked message: Dump your ARM now, if you can
While the media and the market scrutinized every word of the Federal Reserve Board's message last week, it seemed to overlook the most important signal, which was there loud and clear for anyone reading between the lines. It went like this: "Refinance your adjustable-rate mortgage now, if you can."
See Chuck Jaffe.