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FHA Issues Home Purchase Program, No Monthly Payments

Starting January 1, 2009, FHA will begin to insure reverse mortgage loans for purchases. What does this mean? Senior borrowers age 62 and over can now purchase a home using a reverse mortgage rather than a traditional forward mortgage.

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Refinancing Boom Amid Falling Mortgage Rates

Mortgage applications nearly doubled last week after the Federal Reserve slashed interest rates by 0.75 percent last week.

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