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Nearly 5 million homeowners can now save money on their mortgages

Nearly 5 Million Homeowners Can Now Save Money On Their Mortgages. A sharp drop in interest rates last week suddenly made millions more borrowers eligible to refinance their mortgages.. That is a nearly 50 percent increase in the size of that population in a single week.

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With rates coming down, borrowers can not only save money through a refinance, but more borrowers are likely to be eligible. Appraisals have been an issue in the housing market for buyers and refinancers. Home prices inflated so quickly that some appraisals were not keeping up. Now that home prices are cooling, that is the case less often.

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That is a nearly 50 percent increase in the size of that population in a single week. On a $300,000 mortgage, a refinance from 4.81 percent to 4.06 percent would save the homeowner about $133 per month. A sharp drop in interest rates last week suddenly made millions more borrowers eligible to refinance their mortgages.

The couple recently sold their Dallas home and moved to Orlando. “Between the three of them, I was fortunate to save a ton of money I didn’t have on tuition,” Shea says. But Shea says he’s been.

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Those homeowners have a lot at stake, too. Many of them could cut their interest payments by thousands of dollars a year. Freddie Mac, along with its cousin fannie mae, was bailed out in 2008 and is.

 · For Some Americans, the Housing Crisis Isn’t Over About 7.5 million people still owe more on their mortgages than their homes are worth. And in some counties, numbers are climbing.

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That is a nearly 50 percent increase in the size of that population in a single week. On a $300,000 mortgage, a refinance from 4.81 percent to 4.06 percent would save the homeowner about $133 per month. A sharp drop in interest rates last week suddenly made millions more borrowers eligible to refinance their mortgages.

 · Nearly 5 million homeowners can now save money on their mortgages Real Estate A sharp drop in interest rates last week suddenly made millions more borrowers eligible to refinance their mortgages.

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