Welcome to Illinois Mortgage Rates and News week in review for the week ending September 26th, my take on the week's financial news and how it affected Illinois mortgage rates. This week the markets were in limbo as everyone waited for congress to approve some version of the financial bailout bil
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09/27/2008
Have you ever watched the TV game show The Price is Right? The most compelling part of that show is when the contestant has already won something, but they are now faced with a decision. Do they want to keep what they have, or trade it in for the unknown? What lies behind door number two? Is it a
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09/24/2008
Welcome to Illinois Mortgage Rates and News week in review for the week ending September 19th, my take on the week's financial news and how it affected Illinois mortgage rates. I expected this to be a wild and volatile week. I never expected it to be this wild. There was a near melt down in the f
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09/22/2008
These last few weeks have been scary times in the financial markets. It felt like an earthquake a little over a week ago when the government stepped in and took over mortgage giants Fannie Mae and Freddie Mac. The ground shifted on Wall Street again this weekend as the feds declined to save Lehma
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09/18/2008
Welcome to Illinois Mortgage Rates and News week in review for the week ending September 12th, my take on the week's financial news and how it affected Illinois mortgage rates. It's beginning to seem like all the most important news happens on the weekends. At least that's the case in the financi
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09/13/2008
Not so long ago it looked like the FHA Down Payment Assistance programs (DPAs) were gone for good. The DPAs were one of the last ways available for first time home buyers and others who were short a down payment but otherwise qualified, to buy a home with no money out of their own pocket. This pr
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09/13/2008
When mortgage rates started moving up at the beginning of this summer, many people thought they missed the boat on any chances of refinancing their mortgage and getting a better interest rate and payment. Well, the boat is on the way back to port and it looks like you are about to get another cha
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09/09/2008
As expected, the US government stepped in today and placed Fannie Mae and Freddie Mac into a conservatorship under federal control. This is the long talked about bailout of the two mortgage giants. This action has been anticipated for a while as both the Fed and Treasury Secretary Paulson announc
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09/07/2008
Welcome to Illinois Mortgage Rates and News week in review for the week ending September 5th, my take on the week's financial news and how it affected Illinois mortgage rates. It's official. The biggest threat of inflation has passed and the weakening economy is our worst fear going forward (for
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09/05/2008
Chicago, Illinois - One of the major differences between FHA loans and conventional loans is how the loans are approved. Conventional loans are almost entirely dependent on the automated approval, that is as long as you put the right information into the computer (Getting the information right is
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09/05/2008
