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Bailouts for Dummies
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 871029" data-attributes="member: 12570"><p>I refinance about a year ago. Reduced my mortage from a 30 year to a 15 year and brought the APR from 6.125% to 4.5% fixed. Cost me about $3K which I rolled in to the note.</p><p></p><p>I understand and agree with moreluck's frustration but also understand that I would rather keep a home occupied and maintained than to see it sit waiting to be foreclosed upon. I think this program has merit.</p><p></p><p>This program would only apply to government backed mortgages. (FHA, VA)</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 871029, member: 12570"] I refinance about a year ago. Reduced my mortage from a 30 year to a 15 year and brought the APR from 6.125% to 4.5% fixed. Cost me about $3K which I rolled in to the note. I understand and agree with moreluck's frustration but also understand that I would rather keep a home occupied and maintained than to see it sit waiting to be foreclosed upon. I think this program has merit. This program would only apply to government backed mortgages. (FHA, VA) [/QUOTE]
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