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Questions
on Locking the Price of a Mortgage Loan
Why
Is Locking Unique to Mortgages?
Why Does the Locking Process Impede Effective Shopping?
In
Deciding When to Lock, Should You Attempt to Forecast the Direction of Interest
Rates?
What Is the General Case For Delaying the Lock? What Is the Case Against?
Why Is it Safer to Delay a Lock on a Refinance Than on a Purchase?
What
Is Meant by a "Free" Rate Lock?
Why Is it Not a Good Idea to Lock the Loan For a Period Longer Than You Need?
How
Can an Unscrupulous Mortgage Broker Charge You for a Rate Lock and Not Provide
it?
What Can You Do to Protect Yourself?
Does
it Make Any Sense to Lock the Rate But Not the Points?
Why
Will Some Mortgage Brokers Agree to Relock a Loan If Interest Rates Decline
While Others Will Not?
How Is it That Many Borrowers Bring Locking Problems on Themselves?
When
the Paperwork Required to Close Within the Lock Period Hasn't Been Completed,
Under What Circumstances Might the Lender Extend the Lock?
What Is the Borrower's Responsibility in Getting to the Closing Table Within the
Lock Period?
What
Does it Mean to Allow the Rate to "Float"?
What Is the Danger in Allowing the Rate to Float?
Why Is it More Dangerous to Float When Purchasing a House Than When Refinancing?
Why Is it Particularly Dangerous to Float When Purchasing a House During a
Refinancing Boom?
If Your Have Already Elected to Float, What Can You Do to Protect Yourself?
What
is a Float-Down, and How Does it Differ From a Lock?
How Do Some Borrowers Get a Float-Down Without Paying For it?
Why Does This "Lock-Jumping" Hurt Other Borrowers?
How Could Lenders Eliminate Lock-Jumping?
Is
There a Standard Float-down Contract?
How
Does a Borrower Protect Himself Against Losing a Lock?
Is
a Borrower Committed Under a Lock?
What
Is "Lock Failure"? Why did Lock Failures Increase in Late 2003?
Why Are Mortgage Locks Unreliable? Is a Borrower Safer Dealing With a Broker or
a Lender? Is There Any Recourse for Failed Locks? Can Failed Locks Be Prevented?
Exactly What
Characteristics of an FRM and an ARM Are Covered by a Lock?
Should You Be Put Off by a Required Lock Deposit?
What Is the Proper Role of a Mortgage Broker In the Locking Process?
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