Goodbye Mortgage Insurance (Buyers Can Save Money!)

My preferred mortgage professional Elvin Wesley recently sent this information regarding mortgage insurance (MI) – this is good to know for all buyers or future buyers: Great news, buyers no longer must wait until they have 20% down to purchase a home and get a mortgage loan without Mortgage Insurance (MI)! If they meet the…

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Pending Legislation Could Help Homeowners Refinance

The Responsible Homeowner Refinancing Act, a recently proposed bill in the House of Representatives, would help millions of homeowners refinance at lower interest rates, thus saving thousands of dollars a year and rewarding those who have been responsible in keeping up with mortgage payments. HARP, he current refinancing program, only saves homeowners on the average…

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Real Estate News REcap

In case you haven’t been following the news lately, there is a lot of real estate-related news making headlines right now. Here are some of the big stories: 1.  Underwater homeowner refinancing to include non-Fannie and Freddie backed loans? Many people are aware that the new version of HARP will reach out to help homeowners…

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Can Underwater Homeowners Refinance?

One of the biggest problems with the state of housing ownership is that one in four homeowners in the U.S. are underwater, meaning that they owe more on their mortgage than the current market value of their homes. In many situations this leads to foreclosure or other options like short sales or deeds in lieu…

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