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Why? $$$$$$$$$$
Posted by  Becca_FL of FL on 7/27/07 11:18am Msg #202232
Brokers and LOs want their commission.

FHA and VA loans accrue interest monthly as opposed to daily. When a borrower with an FHA or VA loan refis, they will pay an entire months interest no matter when the loans is paid off. Back in the old days, refis would typically close by the end of the month to save borrowers from paying an additional month of interest.
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Messages in this Thread
 EOM - The never ending conspiracy -  Ndwa on 7/27/07 7:48am
 Re: EOM - The never ending conspiracy -  MistarellaFL on 7/27/07 10:14am
 Re: EOM - The never ending conspiracy -  jba/fl on 7/27/07 10:17am
 Finally, a busy day. - CJ on 7/27/07 10:52am
 Why? $$$$$$$$$$ -  Becca_FL on 7/27/07 11:18am
 Re: Why? $$$$$$$$$$ - JanetK_CA on 7/27/07 8:11pm

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