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Wednesday, May 02, 2007

Ways to save money on mortgages

The Yahoo/MotleyFool article discusses various ways to save money on mortgage. Strategies include:

- Assuming the existing mortgage on the house you are buying, if it has lower than the market interest rate
- Using seller financing where you make payment to the seller instead of an institutional lender. Advantage: you may get lower interest rates + can avoid various administrative loan-related junk costs
- Paying points
- Paying off mortgage ahead of the schedule
- Negotiating interest rates with the lender

For complete article, check out:

Yahoo/MotleyFool: Save Money on Your Mortgage

Labels: frugal; Investing

posted by Ruby @ 7:13 AM

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