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Updated over 4 years ago on . Most recent reply

Paul Shannon's profile image
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Paul Shannon
  • Rental Property Investor
  • from Fishers, IN
  • Member since Oct 25, 2016
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Paul Shannon's profile image
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Paul Shannon
  • Rental Property Investor
  • from Fishers, IN
  • Member since Oct 25, 2016
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Paul Shannon
  • Rental Property Investor
  • Fishers, IN
469
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335
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Private Lending & Conventional Mortgage Advice

Fannie & Freddie Delaying New Refinance Surcharge Until 12/1/10

Paul Shannon
  • Rental Property Investor
  • Fishers, IN
Posted

FHFA about two weeks ago proposed an "adverse market" refinance fee of .5% of the loan amount to begin on 9/1 for all refi mortgages back by Frannie or Freddie.  The WSJ's Andrew Ackerman minutes ago reported that the FHFA is standing down, delaying this surcharge until 12/1.  

Get your refis in soon!  Good news there's still time to avoid this clear money grab.   

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Tracy Cummins
  • Real Estate Agent
  • from Charlotte, NC
  • Member since Jan 23, 2019
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Tracy Cummins
  • Real Estate Agent
  • from Charlotte, NC
  • Member since Jan 23, 2019
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Tracy Cummins
  • Real Estate Agent
  • Charlotte, NC
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Tracy Cummins
  • Real Estate Agent
  • Charlotte, NC
Replied

@Paul Shannon you just saved me a phone call to my lender.  In the middle of a refi on my personal home and was worried I was going to get caught in the cash grab myself!

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