Don’t overpay for title insurance

Don’t overpay for title insurance Many refinancing borrowers continue to overpay for title insurance because they don’t know enough to ask. Not everyone is eligible, however. Cutoff dates In most states, insurers set a cutoff on how old a mortgage can be to be eligible for a reissue rate. The most common cutoff is 10 …

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Refinance or modify while it’s still possible

Interest rates have been very low for several years, and right now they are lower than ever, yet millions of mortgage borrowers who could profit from a refinance haven’t. Similarly, millions of borrowers who are having trouble making their mortgage payments but want to remain in their homes could have their mortgages modified to make …

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OCC Publicizes Independent Foreclosure Reviews

Advertisements informing the public about the independent foreclosure reviews underway at 14 servicers hit the presses and the radio airwaves Wednesday. Released by the Office of the Comptroller of the Currency (OCC), the advertisements inform the public that those who underwent foreclosure in 2009 and 2010 might be eligible for an independent review if there …

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Most refinancing borrowers choose fixed-rate mortgages

In the third quarter of 2011, fixed-rate loans accounted for more than 95 percent of refinance loans, based on the Freddie Mac Quarterly Product Transition Report. Refinancing borrowers clearly preferred fixed-rate loans, regardless of whether their original loan was an adjustable-rate mortgage (ARM) or a fixed-rate. An increasing share of refinancing borrowers chose to shorten …

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