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7 Secrets to Refinancing an Underwater Mortgage

Mortgage loans that are owned, guaranteed, or backed by Freddie Mac and Fannie Mae might qualify for refinancing through the HARP program; the majority of loans fall under this category. Otherwise, if you have an FHA loan, then you should check out the FHA Streamline Refinance; USDA loan, the USDA Rural Refinance Pilot (a pilot program) in selected states; or VA loan , the IRRRL.

If you are ...

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Date: 2018-03-30 06:43:48

8 Ways to Reduce Mortgage Closing Costs - Wise Bread

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8 Ways to Reduce Mortgage Closing Costs

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Mortgage closing costs can be one of the most difficult aspects of buying a home or refinancing a current mortgage. Costs can be high, ranging anywhere from 2%-5%, depending on your locale, lender, and type of mortgage. (See also:...

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Date: 2018-03-30 08:05:19

The 7-Year Mortgage: Take It or Leave It? - Wise Bread

The 7-Year Mortgage: Take It or Leave It?

The 7-Year Mortgage: Take It or Leave It?

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My credit union has been promoting a seven-year mortgage. This type of loan could be perfect for someone who needs to pay off a mortgage quickly, or so I thought. But then I found out that there are many types of seven-year mortgages. Oddly, many have 30-year terms, and at least...

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Date: 2018-03-30 13:39:24

4 Ways to Buy a House Without a Mortgage - Wise Bread

Home » Personal Finance » Real Estate and Housing » 4 Ways to Buy a House Without a Mortgage

4 Ways to Buy a House Without a Mortgage

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Although mortgages are a common way to purchase a home, you can only get one if you qualify. The qualifications include an acceptable credit score, a sufficient down payment, and meeting a bank's income and employment...

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Date: 2018-03-30 05:27:09

3 Ways Student Loan Debt Can Affect Your Mortgage Application

Missed student loan payments can hurt, too

Student loan debt doesn't just make reducing your debt-to-income ratio harder. It can also hurt your credit score, if you're not careful about making your payments on time.

In addition to debt-to-income ratios, lenders also rely on borrowers' FICO credit scores when determining who qualifies for a mortgage. Most lenders consider FICO scores of 740 or higher to be exceptionally strong. If your score is under 640, you'll struggle to qualify for a mortgage without paying high interest rates. If your score is under 620, you'll have a hard time qualifying for a mortgage at all.

Paying your bills late...

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Date: 2018-03-30 10:05:37

Related topics : home loan debt to income ratio / debt consolidation home mortgage loan / home improvement debt consolidation loan / mortgage rates with 640 credit score / consolidation debt home loan

The Process for Purchasing a House With Cash - Wise Bread

When you pay cash, that will automatically become your Asset. You own it. But if you get a mortgage to buy your house, you can never say its yours. That's not yours yet. The Bank owns it....you can only say its yours when you are fully paid with your mortgage.

So if you can afford to pay cash, why don't you? It is always advisable to pay cash I tell you.

REPLY

Guest #9

Under the current very low...

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Date: 2018-03-30 05:27:52

Related topics : low mortgage interest rates / current interest mortgage rates / us bank interest rates home mortgage / mortgage interest rates bank / interest rates home mortgage

We Do the Math: Save for Retirement or Pay Off Credit Card ...

Should you save for retirement or pay off credit card debt? If you're carrying a card balance, you may be wrestling with whether to put all your resources into attacking the debt, or start building your retirement nest egg while you slowly pay off debt.

Which one will give you a better net worth? There's no simple answer. For some people the situation may warrant clearing credit card debt first;...

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Date: 2018-03-30 05:37:05

Related topics : cash out ira to pay off credit card debt / cash out roth ira to pay debt / cash out ira to pay debt / cash in ira to pay debt / cash out interest rates