This one-of-a-kind lakefront lot is truly unique within the [tag]Malone Bay[/tag] community. It is one of the most desirable, if not the most desirable lot among the few remaining properties with waterfront access to [tag]W. Kerr Scott Lake[/tag].

Malone Bay features 18 lots at [tag]W. Kerr Scott Dam[/tag] & Reservoir. 14 are Lakefront and meet private dock requirements. This is a gated community with Lots ranging from 2.3+- acres to 6.8+- acres On the Hwy 421 side of the lake just off South Minton Road, Wilkesboro, NC 28697

Main Channel Views.
300 feet of waterfront.
Dock with boat slip and 2 jet ski slips.

2.86 acres.

MLS Number: 51155
List Price: $359,000
Lot Size: 2.86 ac.
Apx Acreage: 2.86
Type: Waterfront
Area: Area 2
Suitable Use: Residential

Topography: Rolling
Utilities: Underground Utilities
Road Frontage: Private Road
Restrictions: yes
Water/Sewer: Public Water
Miscellaneous: 1-5 Acres
Location: Malone Way

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Mortgage Rip-offs and Money Savers reveals how the mortgage industry cheats borrowers out of billions in extra costs every year. Mortgage industry insider Carolyn Warren taps her decade of experience with lenders to expose the tricks, lies, and dirty little secrets they don’t want you to know. With her expert guidance, borrowers will save tens of thousands when they avoid the traps so many consumers fall into. Having this inside information is the only way [tag]mortgage borrower[/tag]s can truly get the best possible deal. (more…)

In coming months, homeowners with [tag]adjustable-rate mortgage[/tag]s will experience an interest rate reset, giving them a higher rate as required by the loan agreements and leaving many unable to make their payments. Soaring mortgage default rates this year already have shaken major financial institutions and the fallout from more of them, some experts say, could spread from those already battered banks into the general economy. The worst-case scenario is anyone’s guess, but some believe it could become very bad. Some of the nation’s leading economic minds lay out a scenario that is frightening. Not only would the next wave of the mortgage crisis force people out of their homes, it might also spiral throughout the economy. (more…)

While most of the attention during the housing slump has been directed at [tag]subprime mortgage[/tag]s given to those with weak credit histories, some high-cost regions have a different problem. There are prime borrowers with excellent credit who’ve used subprime-style gimmicks in combination with jumbo loans to overpay for their homes. The investors who had fueled the real estate boom earlier in the decade were spooked by cascading losses from the junk mortgages they owned. Since then, the investors have refused to buy securities that aren’t based on the most conservative borrowing standards, even loans to borrowers with excellent credit. If the jumbo-mortgage segment doesn’t bounce back, home sales will slow even more than they have and prices could continue to fall. A well-functioning jumbo market is essential if the housing market is to stabilize and eventually head up again. (more…)

Many lenders have [tag]biweekly payment plan[/tag]s under which borrowers make half the monthly payment every two weeks. They are especially convenient for people like you who are paid biweekly. If you pay half the monthly payment every two weeks, over the course of a year you make 26 half-payments, which is the equivalent of 13 full payments. Most biweekly programs credit payments monthly, while a few credit payments biweekly, which is worth a little more to the borrower. Crediting payments every two weeks means that the balance is reduced every two weeks, which saves a little interest within each month. (more…)

In the months ahead, millions of [tag]adjustable-rate mortgage[/tag]s will reset, giving them a higher interest rate as required by the loan agreements. Many homeowners may be unable to make their payments. Soaring mortgage default rates this year already have shaken major financial institutions and the fallout from more of them. Some experts say this could spread from those already battered banks into the general economy. The worst-case scenario is anyone’s guess, but some believe it could become very bad. “We haven’t faced a downturn like this since the Depression,” said Bill Gross, chief investment officer of PIMCO, the world’s biggest bond fund. He’s not suggesting anything like those terrible times — but, as an expert on the [tag]global credit crisis[/tag], he speaks with authority. (more…)

About two thirds of the mortgages in Europe and Australia are written as CAM ([tag]Combined Account Mortgages[/tag]) and under certain circumstances for some borrowers they can be an exceptional tool that can automatically greatly accelerate the payoff of a borrower’s mortgage with no change in the borrower’s spending habits or any special administrative procedures required of the borrower. The key here is that CAM mortgages will benefit the borrower only if he or she makes significantly more money per month than they spend but do not use their excess cash to accelerate the payoff of their existing mortgage because they may need the money downstream. With the typical mortgage they cannot retrieve any extra money they may have paid in without refinancing or selling their home. With the CAM mortgage they can. (more…)

[tag]Freddie Mac[/tag] has reported a loss of $2 billion for the third quarter and said it is “seriously considering” a 50% cut in its fourth-quarter dividend. Freddie also said it is considering ways to raise additional capital. Losses at Fannie and Freddie constrain their ability to perform their role of funneling money into the mortgage market when other investors are leery of home loans, said Jim Vogel, an analyst at FTN Financial Capital Markets, Memphis, Tenn. Though Fannie and Freddie remain huge sources of funding for mortgages, their woes could prolong the shortage of capital that is forcing lenders to ration credit and hurting demand for housing. Freddie said it has hired Goldman Sachs and Lehman Brothers to help it “consider very near-term capital-raising alternatives.” Last week, [tag]Fannie Mae[/tag] raised $500 million with a sale of preferred stock. (more…)