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Rainy Day Loan - mortgage lending news update
What is happening in the mortgage lending business? According to the Federal Reserve many banks have toughened home lending standards even for those who have good credit.
Tip: Be careful with adjustable rate mortgages. Read the agreement to find out WHEN the rate will be reset, how high it will go, and how high it could go! Consider refinancing to a Fixed Rate. Get the best rate - check on a 30 year fixed rate.
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