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Obama's Announces Billion Dollar Refinance Plan to Help Distressed Homeowners

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  • Obama's Billion Dollar Refinance Plan | The N | | 02 Feb 2012, 08:20 AM Agree 0
    [...] here to see the original: Obama's Billion Dollar Refinance Plan | The Niche Report Segnala presso: This entry was posted in Uncategorized and tagged another-plan, [...]
  • John Yang | | 04 Feb 2012, 06:22 AM Agree 0
    The only problem with this new mortgage proposal is it's a FHA financing. FHA mortgages require an upfront mortgage insurance(1%) and a monthly mortgage insurance premium(1.15%/12). So even if you are going from a 5.25% fixed conforming mortgage with no MI to a new lower FHA financing @ only save $46 per month. Here is a detail comparison or analysis:
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