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Fannie Mae, online lender partner to offer refi product to pay down student loans

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Mortgage Professional America | 02 Nov 2016, 01:41 PM Agree 0
A new product from Fannie Mae and online lender SoFi is designed to let homeowners use a refi to pay down student debt
  • DB | | 02 Nov 2016, 02:23 PM Agree 0
    How is this different than a normal cash out refi? I saw it's max LTV of 80%.... Seems a little misleading to represent it as a special partnership deal when they are just branding a cash out refi.
  • Caroline Gerardo | | 02 Nov 2016, 02:27 PM Agree 0
    Nothing new about this product. Borrowers could always refinance and payoff student mortgages directly. The real seed inside the peach pit of student mortgages is they never go away. Bankruptcy doesn't wipe them out. Putting student mortgages inside mortgage debt while rates are close to 3 seems tempting but paying for 30 years may be no better solution to paying the existing notes which are also at low interest rates (as long as they are not in default) As long as our government allows interest deductions including in a mortgage may give small benefit, but what America needs is reform in student mortgages at the start. Billions are made on pushing student mortgages to young Americans without disclosing that twenty grand+ or more for an education type that has zero job opportunities is not a wise path.
  • CM | | 07 Nov 2016, 01:02 PM Agree 0
    So in other words, this means nothing...?? Why does MPA even publish such a story, very misleading.
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