Can I use Obama’s Stimulus Plan to refinance an upside-down mortgage?

Wells Fargo Kicking off New Year with Low Mortgage Rates
The shorter term 15 year loan deals at the bank start at 2.375% and APR of 2.856%. The 5/1 ARM interest rates at … The best 30 year refinance FHA fixed rate mortgage interest rates can be had for 3.250% carrying an APR of 4.274% today. The best 30 …
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Mortgage Rates: Low Mortgage Rates Stable After Home Price Data Released
Today's FHA 30 year fixed mortgage rates are as low as 3.250%, order cure FHA 15 year fixed mortgage interest rates are as low as 2.750% and FHA 5/1 ARM loan rates are as low as 2.500%. Low down payment guidelines and easier credit qualifying make FHA loans …
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Mortgage Rates: Low Mortgage Rates Remain Through Christmas Holiday
Current FHA 30 year fixed mortgage rates are as low as 3.250%, FHA 15 year fixed mortgage interest rates are as low as 2.750% and FHA 5/1 ARM loan rates are as low as 2.500%. Many home buyers need FHA loans because of the low down payment …
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Question by First time buyer: What is the basic difference between origination fee and discount fee also known as line 801 and 802?
I know both will bring down my mortgage rate and both can be called points. I wanted to know what are the advantages and disadvantages of each. I asked this same question to our lender and either they refuse to answer the question or they don’t know the difference. I feel like they are not being honest with me about this matter.

Best answer:

Answer by happybostonian
The answer is this: both are fees charged by mortgage brokers and lenders. Also, physician mortgage brokers can not charge points/ only lenders can- the term is mistakenly called this.

Origination fee is something charged by the broker/lender to pay for administrative fees (processing and the like).

Discount fee is something that a broker will charge in order to offset the discount points they are paying… although the regulations are not written as such.

Hope this helps you out.

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Question by capitman: Is it more difficult to get an FHA loan if the house has vinyl siding?
I am planning to sell my home. It has cedar shingle siding which is quite difficult to paint, diagnosis and I am thinking of getting Vinyl siding, viagra but I have heard rumors that the FHA is reluctant to back a mortgage loan on house with vinyl siding. I don’t want to limit any buyer options.

Best answer:

Answer by Stuart
FHA loans are made on the basis of the value of the home and the borrower’s ability to repay the loan.

Vinyl siding doesn’t necessarily make the home any less valuable, unless it’s really out of character for the neighborhood.

– Stuart

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LEHMAN: Obama's student-loan repayment racket
The letter notified, illness “If proof of your current income is not received within 90 days of the date of this letter, treat your repayment plan will be changed to Standard Repayment Plan, link which could increase your monthly payment amount.” On Oct. 23, I faxed last …
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Judge OKs settlement in Thornburg Mortgage collapse
The interest paid on the bonds was supposedly backed by the revenue the company received from its mortgage portfolio, but the funds claimed the securities Thornburg sold were “riddled with poor-quality loans, which contained fraudulent borrower …
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Question by Philip: Is there a reverse mortgage available for people less than 62 years old?
I am a US homeowner. Instead of refinancing, pharm I wanted to explore the possibility of a reverse mortgage.All I have seen so far is that this is only good for homeowners aged 62 or more. Is there a company that provides reverse mortgages for those younger than 62?

Best answer:

Answer by James H
Have a look here.

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Emaar Drops as U.A.E. Said to Cap Expat Mortgages: Dubai Mover
The second-biggest Arab economy issued guidelines to restrict mortgages for expatriates to 50 percent of property value, information pills according to three bankers who saw a circular issued yesterday. Home loans to U.A.E. citizens can be as much 70 percent of the …
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Losses on reverse mortgages prompt FHA to make changes
WASHINGTON — You've probably seen the reverse mortgage pitchmen at work on your TV screen — former Sen. Fred Thompson and actors Robert Wagner and Henry "Fonzie" Winkler prominent among them — urging seniors to pull cash out of their homes …
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Mortgage Rates: Mortgage Rates Remain Low as New Home Sales Increase
Current FHA 30 year fixed mortgage interest rates are as low as 3.250%, stuff FHA 15 year fixed mortgage rates are as low as 2.750% and FHA 5/1 ARM loan rates are as low as 2.500%. FHA loans are available to help consumers obtain financing with lower down …
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The Stonehenge Mansion was built in 1914 for Samuel Hoyt Venable, website a bachelor, ambulance and his sister, decease Elizabeth Venable Mason, her husband, Frank Tucker Mason, and their young children. The architect for the mansion was Edward Bennett Dougherty. One more of Mr. Venable’s Sisters, Mrs. Leilla Venable Ellis was responsible for the murals and other art work all through the home. The mansion was built in the Domestic Gothic Style of the Tudor period from Stone Mountain granite.

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1C-76 Dickson-Williams Mansion

Developed and constructed (1815-21) by Irish craftsman Thomas Battersby and John Hoy this property was built by Greenville’s initial postmaster, William Dickson, for his daughter, Cartharine (Mrs. Alexander Williams). Marquis de LaFayette, Presidents Jackson and Polk, Henry Clay, David Crockett, and Frances Hodgsen Burnett had been guests. It served as headquarters for each Confederates and Union officers. Confederate Basic John Hunt Morgan spent his last night here before being killed in the garden on September four, 1864

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Question by Reuben: Can I use Obama’s Stimulus Plan to refinance an upside-down mortgage?
I owe more on home than what the value is. Can I refinance being upside down? I have good credit and no late payments.

Best answer:

Answer by Common Sense
No, click that’s not what it’s for.

Know better? Leave your own answer in the comments!