Avoid overcharges when refinancing

The process of deciding whether to refinance a mortgage in order to lower costs involves four steps:• Step one: Select the preferred type of new mortgage.• Step two: Find the best available price on that mortgage.• Step three: Determine whether the cost of the new mortgage will be lower than the cost of retaining the …

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Mortgage Applications in U.S. Rise 6% as Rates Drop to New Lows

“According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 7, 2012, mortgage applications increased 6.2 percent from one week earlier. The Market Composite Index, a measure of mortgage loan application volume, increased 6.2 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index …

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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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California home sales increase in October

Home sales increased 8.5 percent to a seasonally adjusted annual rate of 493,240 units in October compared with a year earlier, C.A.R. reported.  On a month-over-month basis, home sales in the state rose 0.9 percent. “Based on preliminary analysis, it appears that the lower conforming loan limits has had a cooling effect on home sales …

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