Homeowners NOW BEING FORCED TO REFINANCE To 8% Mortgages

One of my viewers that writes mortgages, wrote me that the lion's share of their recent financing transactions have actually been re-finance deals rather that home equity loans or HELOC's. Wait a minute, why would anyone want to trade in their 3% mortgage rate for an 8% mortgage rate. Simple...people are going broke and cannot qualify for these loans any longer. This economy and housing market is rapidly changing. Hope you can keep up.
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