Should you be concerned that the maximum loan amount you’ll be able to obtain through the biggest players in the mortgage industry – Fannie Mae and Freddie Mac – might be cut sometime next spring? You just might.
The economy may be growing at a frustratingly slow pace, but one piece of it is booming: American homeowners’ equity holdings – the market value of their houses minus their mortgage debts – soared by nearly $2.1 trillion last year to $10 trillion.
One of the mortgage products that contributed to the housing crash is booming again: New home-equity credit-line borrowings soared by 42 percent in the final three months of 2013 and were up sharply for the entire year, to $111 billion.
Here’s some good news for homeowners worried that Congress will fail again to renew popular tax benefits for use in 2014 – especially those allowing for mortgage debt forgiveness, write-offs for energy-saving improvements and mortgage insurance premiums.
Applications are now being accepted for the 14th Annual Business Excellence Awards Program. Deadline to apply is October 1st. And save the date for the Awards Dinner - November 12th at the Providence Marriott.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.