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Question by I’ll_Beat_U_At_Pacman: What’s the best way to find the lowest mortgage rate possible after getting an accepted offer?
What do I need to do to know I am getting the best mortgage rate possible (just got an offer on a house accepted) – I live in Indianapolis, about it likely will get a 30 yr fixed. Any ideas on what kind of rate I should be looking for
Best answer:
Answer by Not I
The rate is dependant on How much of a mortgage, erectile how much down payment you have, sickness Your credit score, your debt to income ration. Start with the bank where you have your checking and savings.
Look online what the National companies are offering. Wells Fargo and such
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Question by Bman: For a Making Home Affordable loan modification, cure is amount of equity considered in the approval process?
A representative at my lender mentioned if you have over 30% equity in your house, ampoule the modification can be denied based on that. But a counselor at the Making Home Affordable Hope Hot line told me that the equity should not be considered for approval.
Best answer:
Answer by godged
Ask the counselor to provide you with a link to the information that states the amount of equity is not to enter into the equation. SHOULD NOT is very weak footing though, if the information really says should not, the lender can deny you based on your equity.
Best of luck to you.
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US Seeks to Stop Predatory Loans Reports Watchtower Mortgage
“This means that lenders can no longer offer no-doc, drugs low-doc loans, site where lenders made quick sales by not requiring documentation, then offloaded these risky mortgages by selling them to investors,” the CFPB said. About Watchtower Mortgage Watchtower …
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Federal agency issuing more rules to improve mortgage and foreclosure …
The final rule also carries out Dodd-Frank provisions that, for mortgage and home equity loans, generally prohibit mandatory arbitration of disputes related to mortgage loans and the practice of increasing loan amounts to cover credit insurance …
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PBS Frontline's 'The Untouchables' Investigates Lack Of Wall Street …
Commenting on clips from the episode showing former home loan underwriters explaining how they would laugh as they pushed through mortgages that were too expensive for the borrowers, Smith said this type of behavior was "very frequent and common …
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