Mortgage applications rose last week (AP)

mortgage

The number of people applying for a mortgage rose last week as lower rates lured more borrowers to refinance. The Associated Press NEW YORK — The number of people applying for a mortgage rose last week as lower rates lured more borrowers to refinance. The Mortgage Bankers Association said Wednesday its overall mortgage application index… Read More

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Buying a house..not a huge out of pocket expense with FHA

greenlakehouse

Looking back on recent lending history we are reminded of irresponsible lending and buyers getting in over there head. Now many banks are requiring high credit scores and more money down. Have no fear, a program that has been around for years can still put homebuyers in houses for next to nothing. Mortgages insured by… Read More

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Fannie Mae and Freddie Mac start buying back bad loans (Seattle Times)

Fannie, Freddie to start buying back bad loans By The Associated Press WASHINGTON Government-controlled mortgage-finance companies Fannie Mae and Freddie Mac said Wednesday they will buy back troubled loans contained in securities they already have sold to investors. The two companies are repurchasing mortgage loans for which borrowers have missed at least four months of… Read More

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