Category : mortgage : Insurance

Refinance vs. Purchase

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Financial institutions offer a variety of mortgage products to homeowners in the United States. People can use most mortgage products for both refinances and home purchases. Many mortgages are sold by the originating bank to the government-backed entities Freddie Mac and Fannie Mae. Other mortgages

Types of Mortgages

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Homeowners facing foreclosures have the economy to blame for their misery. Layoffs, rising interest rates, decreasing property values, etc. contributed to the highest levels of foreclosures to date. However, not all of them are victims ...

About Fannie Mae

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Fannie Mae was launched by President Franklin D. Roosevelt in 1938 in an effort to supply mortgages to millions of homeowners who were at risk for losing their homes during the war era. Today, Fannie Mae provides financing to mortgage bankers and lending institutions so that home buyers can f

Mortgage Savings 101

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A mortgage loan functions as a necessary evil for most homeowners, giving them the money they need to buy their homes. Besides comparing loan offers, there are several steps you can take and questions you can ask to make sure you save as much as you can on a new mortgage.

Reverse Mortgage Criteria

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A reverse mortgage is a type of debt that allows a borrower age 62 and older to use the equity in his home to repay his mortgage or other debt, as a line of credit, or as a monthly payment to the borrower. Instead of the borrower paying the mortgage company, the mortgage company pays the borrower.

The Kinds of Equity

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Equity is a common concept in business and finance that is frequently used in the industries of mortgage lending and stock trading. Equity refers to the amount of ownership a person has in some asset and is often expressed as a dollar value. The term "equity" is commonly applied to many different ki