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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (78158)	4/22/2008 4:26:37 PM
From: koan	Respond to of 116555

I just had a conference with some bankers. One of the main morgage insurers will not insure single families with apartments or duplexes, etc. They expect oher mortgage insurers to follow. So what one needs to do is take a second out and they charge 10% and it is an ARM (as I remember) adustable rate mortgage. For those who do not know this game, mortgage insurance is need for any loan less than 20% down. The best deal for financing homes right now is FHA 30 year fixed. Still uner 6%. But things continue to deteriorate in the banking industry.