FHFA structural changes to Release GSE’s from Conservatorship Mortgages. Love ‘em or hate ‘em, but unless you have incredible liquidity, you need a mortgage to buy a home.  In 2008, because so many Americans had begun using their homes as their personal ATM, the financial industry was destabilized, and Fannie Mae and Freddie Mac went…

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Part 1 www.HomeRefiNetwork.com wants you to know mortgage loan borrowers have important rights.  I am constantly amazed by how many people take out a mortgage without understanding the process, the legal contract they are signing, their liabilities and their protections.  Today’s post is meant to shed light on some of this, starting with what the…

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It is not unusual to consider a refinance or home equity line of credit at this time of the year.  This is when all those bills come due from the holidays during the last two months.    What is unusual is that today’s interest rates are near their all time low and are incredibly attractive. …

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Lots of sites are already listing the best mortgage loans of 2020, but the best mortgage loan program for you isn’t cut and dried.  Other factors affect what is more beneficial to each borrower. Credit Score.  You credit score is not static.  It changes depending on purpose of the credit pull and on your recent…

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There’s no place like home for the holidays.  There’s even a song about it.  The thing is, if that home is so expensive that you are house poor, it can ruin your holidays with stress.  To enjoy your home, you need to figure out how to afford it. Home refinance applications are down from last…

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Why Did my Bank Quote a Higher Interest Rate than Advertised? Ever notice the small print next to the in-bank posters with loan interest rates?  It is the bank’s way to cover itself when loan officers have to quote interest rates that are higher than those on the advertisement.  Rates are not set in stone;…

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HomeRefiNetwork.com The rates are low, but holidays are around the corner.  Is now really a good time to refinance your home?  If you can save at least one percent on your interest rate and the closing costs are reasonable, yes.  That said, how you proceed is important. IF you haven’t checked your credit in the…

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The federal reserve rate drop has enticed more homeowners to refinance their existing mortgages.  Mortgage News Daily reports the refinance index increased 144 percent over the save week one year ago.  Mortgage applications are up 1.5 percent from the previous week, mostly from refinance applications. Bottom line, if borrowers haven’t been able to find their…

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We constantly talk about how refinance can benefit borrowers, but the term refinance seems to be a little confusing to many people.  Refinancing a mortgage loan replaces the existing mortgage loan with a new mortgage loan.  You may have the same lender or a new lender, but your previous mortgage loan is paid off by…

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