December 2011
Question of the Month: Can you Refinance with a 2nd Mortgage? There is a belief out there that you cannot take advantage of the HARP Refinance Program if you have a 2nd Mortgage. Yet this is dead wrong. The Loan-to-Value ratio applies to the 1st Mortgage ONLY and has nothing to do with the 2nd. [...]
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The chief economist for NAR has recently sighted that contract failure rates have hit a staggering 33%, up from 18% the prior month. NAR claims the main reason for this is due to declined mortgage applications and appraised values. This is not making any sense to us as lending guidelines continue to open up making [...]
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