Frequently Asked Question: Is it Possible to Refinance an FHA 203k Loan Down to an FHA 203b Loan with No Cost? Q: I have a friend who says her mortgage broker can get her a FHA mortgage at 5.75% interest. Because she wants an FHA 203(k) Rehabiliation Loan, the broker is telling her it will have a
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09/08/2009
The Mortgage Market Watch for the Week of September 7, 2009 Events Affecting the Mortgage Market This Week: There are three Treasury auctions scheduled this week that may have an impact on the mortgage market. They are the 3-Year Note auction on Tuesday, the 10-Year Note auction on Wednesday, and
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09/07/2009
Frequently Asked Question: Can I Get an FHA Loan? Q: I am a teacher, and I earned $47,000 last year. My credit score is 735. I don't have any credit card debt, car payment or anything else besides $40,000 in student loans at 5%. They are in deferment for the next 2 years while I am in grad school
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09/06/2009
The Mortgage Interest Rate Lock Advisory for September 4, 2009 Here are some of the events affecting mortgage interest rates today in Massachusetts, Maine, and New Hampshire. What the Mortgage Backed Securities Market is Doing Today: The price of the FNMA 30-Year 4.5% MBS coupon opened down 6/32
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09/04/2009
Frequently Asked Question: Can I Use Seller's Concession Towards Renovating My New House? Q: I just signed a contract with a 3% seller's concession. Is there a limit on what I can use the left over money from closing for? I'm expecting roughly $8,000 to be left over after all the closing costs ar
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09/03/2009
The Mortgage Interest Rate Lock Advisory for September 3, 2009 Here are some of the events affecting mortgage interest rates today in Massachusetts, Maine, and New Hampshire. What the Mortgage Backed Securities Market is Doing Today: The price of the FNMA 30-Year 4.5% MBS coupon opened down 6/32
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09/03/2009
Frequently Asked Question: Why Do I have to Prepay One Year of Property Taxes and Hazard Insurance? Q: Is this typical? I'm being asked to prepay both one year of property taxes and hazard insurance. I never recall having to do this in the past. What happens to the insurance premium and property
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09/02/2009
The Mortgage Interest Rate Lock Advisory for September 2, 2009 Here are some of the events affecting mortgage interest rates today in Massachusetts, Maine, and New Hampshire. What the Mortgage Backed Securities Market is Doing Today: The price of the FNMA 30-Year 4.5% MBS coupon opened down 1/32
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09/02/2009
Frequently Asked Question: I'm in a Chapter 13 Bankruptcy. Can I Refinance My Mortgage? Q: I am in a Chapter 13 bankruptcy. Is there anyone who will refinance my home? A: In order to refinance your mortgage, you will have to be in the Chapter 13 bankruptcy plan for at least 12 full months and dem
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09/01/2009
The Mortgage Interest Rate Lock Advisory for September 1, 2009 Here are some of the events affecting mortgage interest rates today in Massachusetts, Maine, and New Hampshire. What the Mortgage Backed Securities Market is Doing Today: The price of the FNMA 30-Year 4.5% MBS coupon opened down 1/32
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09/01/2009
