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Smart home buyers are focusing on taking advantage of the present, very favorable rate situation along with the still available tax credit. Rates are likely to go up: Please note that the main reason interest rates are so low is because the government is buying mortgage backed securities, or you may have heard the term "toxic assets", which are basically sub-prime loans or loans that required no proof of income, allowed low credit scores and were generally 0% down.After you get a loan through your bank or mortgage broker, the loans are sold to Fannie Mae and Freddie Mac and then … (1 comments)
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