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For example, a mortgage you took out during the year is a mixed-use mortgage if you used its proceeds partly to refinance a mortgage that you took out in an earlier year to buy your home (home acquisition debt) and partly to buy a car (home equity debt).
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Mortgage Insurance (MI) is an insurance policy that protects a mortgage lender or title holder in the event that the borrower defaults on payments or is otherwise unable to meet the contractual obligations of the mortgage. MI, which is paid by the borrower to a private MI company, can cost the borrower up to 1% of the loan annually.
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Mortgage rates showed little change heading into the Federal Reserve meeting. But now that the central bank has revised its stance, they could be headed lower. According to the latest data released.
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SANTA ANA, Calif.–(Business Wire)–First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions,
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