An In-Depth Look at Cash-Out and Rate-and-Term Mortgage Refinancing

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According to a study by the Federal Reserve Bank of New York, American homeowners took out $8.4 trillion in new mortgages over the last couple of years. That’s more than a third of our country’s total GDP! One of the main reasons why this occurred is because countless Americans sought to refinance their mortgages in a bid to…

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Why Is It Worth Hiring Mortgage Brokers?

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Do you know why the 2007-2009 Global Financial Crisis (GFC) occurred? Housing demand skyrocketed because irresponsible mortgage lenders gave out loans to borrowers without properly considering their default risk. As a result, house prices shot up artificially before the housing bubble popped due to mass defaults—and this changed the game for mortgage brokers forever. Fast-forward to today,…

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6 Reasons Why Your FICO Score Could Suddenly Drop

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If you’ve ever applied for a mortgage, chances are you’ve heard of the term ‘FICO score’.It’s a three-digit number that reflects your ability to pay back a loan; The bigger the number, the easier it is for you to take out a mortgage because you’re seen as less of a default risk compared to others! FICO scores…

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