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I got the same letter offering me 3.25% under that FHA Streamline. Is it true or a fraud?

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February 23 2011 - US
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Send the letter to the Federal Trade Commission and ask them to check in to it for you. 
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March 04 2011
I was working with a client and 2 days before the closing she called me telling me that she got a letter offering a similar rate. Just to put her mind at ease we made a quick conference call.

ME: Hi, we recieved a letter in the mail and I would like to take advantage of the 3.25% rate.

LENDER: Unfortunately, rates have gone up since the letter went out but I can take a quick application and let you know what the rate would be today.

ME: click

In the 2 weeks prior to that letter hitting my clients mailbox, rates were almost exactly the same if not better.

Andrew said it best. Its a bunch of BS to get their phones ringing.
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March 04 2011
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March 03 2011

Rates are low yes you can get that rate, but you are going to paid points to get it or it could be an ARM as well, adjustable rate., So i will recomend to talk to your mortgage counoultant or local bank to see if is conviciene to refinanace, you might be sorprise getting a good rate.
Have a great day.
Karina

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March 03 2011
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Mr. Thompson, it might be helpful to review Zillow's policy for posting here. Hotlinks to your site are generally left on the profile page. Hope it helps.
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March 03 2011
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March 03 2011
You really need to dig and find out what the specifics are. Be very careful of the adds and letters that are saying this.
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February 25 2011
Bait and Switch tactic.
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February 23 2011
Well the rates are there but you will have to cough up a lot of $$ for the closing cost to get the rate. This is just a marketing tactic to intice the borrowers to call a lender or a broker. The costs might not be worth the refinance. Look at what is available at a reasonable closing cost and see if it makes sense to refinance.
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February 23 2011
Probably is a 3/1 or 5/1 ARM.   Common mail solicitation tactic, and also probably says somewhere in the fine print, rate is valid as of (some previous time last year when rates were much better).
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February 23 2011
It's not fraud it's BS!

The letter is from a lender Not HUD or FHA...They want you to think that but it's just some lender trying to make the phone ring!
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February 23 2011
 
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