Tag: interest rate

Churning a loan – it’s an inside reference to a scam performed by some lenders across the country. It works like this: because mortgage rates are at rock bottom interest rates, these lenders offer borrowers a rate lower than a borrower’s current rate. BUT this rate is not the lowest interest rate available, so if

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A change has happened for mortgages on investment properties and second homes. Fannie Mae and Freddie Mac, companies chartered by Congress to purchase mortgages from financial institutions and repackage them for investors, just made it more difficult and expensive for lenders to offer mortgages on these types of properties. In a nutshell, Fannie and Freddie