It’s occurred to me that consumers who are using the internet to research mortgage information, products and guidelines, etc. need to be aware that anything posted before July 31, 2007 may very well have changed or is no longer valid.
Do not rely on information on mortgage blogs or websites. Especially if the information was created before August of 2007.
Guidelines are changing and programs are being removed daily in this ever changing market. If you are currently preapproved for a mortgage, verify that your program still exists. As always, I do not recommend floating your interest rate.
Contact your Mortgage Professional for your most current options.