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FHA Refinance Updates - Michigan Home Loans

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FHA has made some recent changes to allow more borrowers to refinance at today's historic low interest rates. If your FHA loan closed prior to 5/31/09, you can refinance and have your existing, lower rate of mortgage insurance grandfathered into the new loan. Watch for more details!

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Related topics : refinance fha home mortgage loan / loan mortgage rates today / low rate loans

HARP 2.0 Guidelines - Michigan Home Refinance

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The 2011 HARP guidelines have been released! Here are the key points: Current LTV(loan-to-value) cap of 125% lifted. Appraised value will not matter! The current price adjustments based on equity (or lack thereof) will be reduced or even eliminated. Really helpful for those far underwater or with a 2nd Mortgage. Loan amount less than 125% LTV -- Refinance after 12/1/11 Loan amount greater than 125% LTV -- Still waiting on guidance from lenders. ...

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Related topics : refinance mortgage home equity loan

Home Refinancing - Understanding your loan amortization schedule

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Think there isn't enough savings or incentive to refinance? You owe it to yourself to use this tool to understand your NUMBER. Amortization is the key!

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Related topics : amortization schedule loan