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| Mortgage Professor about closing cost: | |||||||||||||||||||||||
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Another Look at No-Cost Mortgage Refinance
September 2002, Revised August 17, 2004 "Another expert recommends refinancing using a no-closing-cost option. His reasoning is that on a refinance, any points paid upfront must be taken as a tax deduction over the life of the loan. This is in contrast to a purchase ... more... Why Are "No-Cost" Mortgages Not? March 20, 2000 "I was told that a certain mortgage lender offering loans on the Internet provided grants to first-time home buyers. The grants cover all settlement costs. Is this for real?" No. I went to the web site you mentioned, and found a mortgage broker ... more... |
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closing cost related definitions |
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HUD 1
HUD 1 A closing document required by HUD that outlines the settlement cost of a loan. The closing agent prepares this document and sends it to the buyer upon closing. The Department of Housing and Urban Development (HUD) was established by the Housing and Urban Development ... more... Assumption Assumption The agreement between buyer and seller where the buyer takes over the payments on an existing mortgage from the seller. Assuming a loan can usually save the buyer money since this is an existing mortgage debt, unlike a new ... more... |
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More about closing cost Understanding Real Estate Terminology Home Loans Refinance Options - Refinance Two Mortgages Into One Best Mortgage Rate - How To Take Advantage Of The Best Home Loans Sub-Prime Mortgage Loan - How Sub-Prime Loans Differ from Conventional Loans Important Facts For Home Buyers Home Mortgage Loan Refinance - Refinancing a Fixed Rate Mortgage Unique Oil Change Concepts Research Debt Consolidation Refi Loans - Eliminate Debt with a Mortgage Refinancing 10 Important Tips to Successful Real Estate Investing Mortgages for Dummies: Interest Rate Basics
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