| When Should You Refinance A Second Mortgage?
A second mortgage allowed you to get the house that you wanted or to have extra cash for some project - but that was a few years ago. You have built up some equity in the house and are now wondering if it would be a good time to refinance your second mortgage. Here are some things you need to know in order to help you make that decision intelligently. .
French building stocks may benefit no matter who wins election
PARIS: French construction and real estate stocks like Vinci and Kaufman & Broad may come up winners whatever the outcome of the presidential election. Both of the leading candidates, Nicolas Sarkozy of the governing Union for a Popular Movement and the Socialist Ségolène Royal, have said that they would spend more on housing. Sarkozy has pledged to make mortgage-interest payments tax-deductible, while Royal proposes building 120,000 subsidized residential units. The election outcome "will benefit the industry in either case," said Frédéric Hamm, a manager at Agilis Gestion. "Both want to increase housing." Both candidates propose helping housing as part of their effort to improve the struggling French economy. Gross domestic product grew more slowly in France than that of the 13-country euro area last year and the jobless rate of 8.5 percent is the third-highest in the region after Greece and Spain.
Shake-up of credit rights to protect borrower
Borrowers with complaints about lenders or unfair credit agreements have been given new rights this week in what the government has des-cribed as "the biggest shake-up in consumer protection law for more than 30 years". Parts of the 2006 Consumer Credit Act that came into effect yesterday allow borrowers to take complaints about any licensed lender to the Financial Ombudsman Service, the free and independent disputes resolution body. .
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