'Cry letter' to lender can reduce waiting period
There are a few FHA lenders who are as liberal as FHA, but charge rates and points well above those posted by other lenders. They are the subprime lenders of the post-crisis market, and should be avoided if at all possible.
The writer is professor of finance emeritus at the Wharton School of the University of Pennsylvania. Comments and questions can be left at www.mtgprofessor.com.
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