As the housing market and economy continue to strengthen, many folks feel they are back on their feet and are looking to buy their first home. The price for renting a home continues to increase as well, adding urgency to many young adults. Understanding the Home Buying Process Buying your first home is an intimidating process. Not only is this uncharted territory, this is usually the largest financial purchase you will make in your lifetime. Plus, there are a lot of moving parts including finding a home, making the offer,…
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Genworth announces lower prices and broader credit guidelines in its mortgage insurance unit
The new regulations are designed to help its lenders to assist a larger number of home buyers. Genworth Financial Inc’s U.S. Mortgage Insurance (USMI) unit, released a statement that said that it will be making a number of adjustments starting on May 14, 2012, which will decrease prices and broaden the underwriting guidelines to help to lower the mortgage insurance costs for most of the mortgage loans that are offered to customers by the lenders. The changes will help more borrowers to qualify for standard mortgage loans. They will also…
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