Refinance

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The recent economic downfall across the world can be seen as mainly effects from the subprime mortgage market. A subprime mortgage is lent to someone who does not qualify for the loan such as someone with less than stellar credit or insufficient income. Subprime mortgage loans given by commercial banks across the world like Bank of America, Bank of England and others have created this disaster in the world wide economy giving birth to the biggest recession in our history. Banks tried to safeguard loans by setting a higher rate of interest as well as apply adjustable rates that increase with time. Consequently, the failure to pay back by defaulters has resulted in this greatest downturn.

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Washington Mutual Bank

It is a FDIC insured bank. Based in Henderson Nevada it has assets worth $311.1 billion. Washington Mutual specializes in Refinance Mortgage Loans.

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Whether you are refinancing a condo in Redondo Beach or purchasing a mansion in Beverly Hills, the City of Angels is a great place to find low-rate mortgage refinancing to accommodate every unique need

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The fluctuating economy has caused the mortgage interest rates to reach an all time low. This is seen as the best time for home owners to have their adjustable rate mortgages refinanced to a fixed rate mortgage.

Why? Simply because when the rates fall so hard, they will eventually rise, and you don’t want to get stuck with a rate that is higher than you can afford.