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Montello launches £250m Real Estate Opportunity Fund
Montello has joined up with global real estate and fund professionals CBRE which will act as transaction manager, while Luxembourg Fund Partners and Apex Fund Services are assisting with the operation and administration of the Fund. The Fund is audited 

The Visible Edge Of Economic Reason [SPDR S&P 500 ETF Trust, PowerShares ...
It's that day of the month when the apex of silly attention gets focused on the BLS. Just in time to directly contradict the FOMC's "careful" What is more likely, particularly given any number of parallel economic accounts, that the economy has a

Apex Mortgage | Raleigh Mortgage | Durham Mortgage | NC Mortgage | NC VA Loan | (919) 395-8624 - (919) 395-8624 NC Mortgage 505 Clyde Farrell Road #2 Apex 27523 United States (919) 459-6512 http NC Mortgage provides Apex ...

'It's our version of the GFC': warning on looming interest-only crisis

The banks pushed interest-only home loans – where the borrower pays interest but never reduces the loan balance - over the past five years, because they enabled people to borrow bigger amounts. They were favoured by investors who could claim the interest as a tax deduction and were often looking to pay the minimum in order to cross-leverage and buy multiple properties.

The typical structure of a such a loan has interest-only repayments for five or sometimes 10 years, at which point it reverts to being principal & interest with repayments 30-40 per cent higher. The lending criteria has tightened in the past six months to a year, so many borrowers would be unable to refinance to another interest-only loan.

Mr Morgan warned the jump in repayments could be higher than the 30-40 per cent forecast by the Reserve Bank, because many people would not qualify for a new 25 or 30-year loan and would be forced to repay the principal over a shorter period.

Mr North dismissed this risk. “Most banks are willing to lend up to the full term as if it were a new loan,” he said.

Apex mortgage bank targets 50 million new subscribers

The Managing Director/Chief Executive of the Bank, Ahmed Dangiwa, an architect, made this known in Lagos during the Lagos Housing fair under the lecture titled; “Exploiting opportunities offered by the National Housing Fund Scheme” in Lagos.

Over the years, the NHF Scheme has contended with periods of rejection by workers, but as at date, it has recorded a customer base of 4.6 million individual contributors and 22,290 organisations.

Currently, workers in twenty-eight (28) States of the Federation comply with the NHF Act by making monthly contributions. Regarding financial inclusion amongst the non-salaried, informal sector, 21,320 informal sector workers have been registered through 1,078 cooperative societies as contributors to the Fund.

NHF has funded the origination of more than 18,085 mortgage loans, the delivery of 25,850 housing units across the country, and 11,927 FMBN Home Renovation Loans, while a total of N19.3 billion has been refunded to 201,534 beneficiaries who have retired and consequently exited from the Scheme.

When do you think the mortgage crisis will reach its apex?

With 65,000 and still counting, how many more will lose their jobs to the mortgage crisis?

2 of the 13 largest lending companies have already filed for bankruptcy.

Who should be held accountable?

BOTH. it's so distressing cause I bought my house a year and a half ago and now the market dropped and it's worth 30 thousand less (all the money i saved to put into a down payment is gone) but when I signed my contract, i KNEW what it meant.