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Author: mandmweb

Avoiding Mortgage Problems

With foreclosures and mortgage defaults on the rise, lenders are tightening up lending standards. So, if you’re in the market for a mortgage, how does this affect you. There’s no doubting that the mortgage industry has taken a battering in recent months and there will be less credit on offer for the next few months while lenders assess the situation. It isn’t just first time buyers who are finding it more difficult to get mortgages, home equity loans, or borrowing against the value of your homes, are also being hit. Homeowners are expected to provide a lot more documentation and it is increasingly rare to borrow the full market value of your home. Even though many of the loans going into default were granted based on well-proved credit scores, some types of loans offered had not been around in the past. Lenders had also been offering loans up to 100% of the home value and in some cases, up to 125. Lenders are becoming more circumspect about these high percentage loans and are carrying out a lot more investigation. No doc or low doc loans are becoming a lot more difficult to get. These loans required no income verification from the borrower and the lending decision was based purely on the market value of the property. As property values have stagnated and in some areas are in decline, the...

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Château de Ranton 1372

The Château de Ranton is a small fortified castle in the village of Ranton, in the Department of the Vienne just west of Loudun, and south of the Loire. It was one of the front-line of fortresses which were built to defend the royal city of Loundun at the beginning of the Hundred Years’ War in 1340-1345. It played this military role until 1372. It then became a feudal manor and one of the estates of aristocratic families associated with the Courts of the French Kings and the Dukes of Anjou. The buildings inside the main rampart wall were...

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memories of 1976

It saw the birth of punk and the death of Chairman Mao, it was a time when Britain was at its financial peak, even though the country was bailed out by the International Monetary Fund. THE SIZZLER OF ’76 – one of the hottest summers on record 1976 Inflation continues to be a problem around the world. Concorde enters service and cuts transatlantic flying time to 3 1/2 hours. One year after Microsoft is formed Apple is formed by Steve Jobs and Steve Wozniak. Nadia Comaneci scores the first ever perfect score in Gymnastics. In South Africa Riots in...

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