In a letter sent to every US Senator, the National Association of Mortgage Professionals (NAMP) said that "... the bankruptcy cramdown provision of S 2636 (Foreclosure Prevention Act of 2008) as it is currently written, will further destabilize the economy and place consumers in even greater peri
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02/29/2008
Conforming mortgage rates are below 6% and might drop further next week. With changes in the lending limits (except in ILLINOIS), some of the credit uncertainty has been reduced. For those that missed the refinance opportunity of a few weeks ago, there may still be hope. Buyers who are sitting
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02/29/2008
Condo mortgages are becoming more difficult . Lenders are tightening up their condo lending guidelines. One of the lenders that offers us the most competitive mortgage interest rates reduced their maximum loan to value for owner occupied condos purchase to 90%. They say it only affects declini
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02/29/2008
My day from HELL!It was Monday morning and I had to attend a downtown Chicago meeting at 10AM. I stepped outside with what seemed to be "plenty of time". My car had been parked outside all weekend and covered with more Chicago snow. Unfortunately, with temperatures bouncing around freezing, I
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02/28/2008
