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[11 Sep 2011 | 2 Comments | 4,086 views]
What is private mortgage insurance?

A lot of factors go into calculating a mortgage payment, but one over which a homebuyer has a lot of control is the amount paid toward private mortgage insurance (PMI).
What, exactly, is PMI?
Simply put, it is insurance which helps protect the lender should the buyer go into default. The idea is that money raised through PMI premiums will cover the lender’s losses should the institution have to take back a home and sell it.
Buyers can’t do a lot about how much they pay on interest and principal every month or, …

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[8 Aug 2010 | One Comment | 2,615 views]
The wait is (almost) over — Rural Development program receives more funding

Mortgage bankers, homeowners and real estate agents have wondered since mid-April when – and if – the United States Department of Agriculture’s Rural Development program would receive the authority to guarantee more loans.
At the end of July, President Barack Obama signed a bill that will allow Rural Development to guarantee those loans. That’s good news for Arkansans as those mortgages are available in most areas of the state and they exist as one of the few “zero down” loans still available. By the first of August, the Mortgage Bankers Association …