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Fannie Mae

ARMs and Interest Only Loans aren’t for Everyone

For the first time this year, Fannie Mae announced significant updates to its mortgage underwriting guidelines. The changes include newer, harsher ARM qualification standards, the elimination of a once-popular loan product, and tighter rules for interest only mortgages.

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Home Value has fallen? You can still refinance

The Federal Housing Finance Agency has extended the government’s Home Affordable Refinance Program by 12 months. HARP’s new end date is June 30, 2011.

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