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Your price of interest can be reduced to as little as 2% for five very long time! How much your rate is dropped is based on your financial hardship. Most economists believe the typical interest rate will be lowered to 3-4%. On a $100,000 mortgage currently at 6.5% which can reduced to 4%, the monthly savings of $155. If you lucky enough to get 2%, you will lay aside $263 a month! After the five years, the Treasury Guidelines state the interest rate would increase to 5% until your mortgage is refunded.
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