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30 year fixed: 30 Year Fixed Mortgage? Here's a new option. - 02/19/08 06:50 PM
30 year fixed mortgages have been very popular lately. With the low rates and the backlash against the adjustable loans, it makes a lot of sense. There is an interesting product out, though, that has not been getting a lot of press lately, and could be a very good option for many borrowers. This new program goes by a number of names, most common is the home ownership accelerator program. It works by applying your income, cash reserves and receivables against your mortgage. It basically combines your checking account with your home loan, like a line of credit in a manner,
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