WebXtra: Uncle Sam wants you...to refinance

By Layron Livingston - bio | email

TYLER, TX (KLTV) - Mortgage rates are now under five percent, and the Obama adminstration is urging millions of Americans to take advantage.

Millions of Americans, inclduing East Texans, could save thousands of dollars and years of mortgage payments by, refinancing their mortgage loans.

Margi Fisher with PrimeLending said he office is normally closed on Good Friday, but she was hard at work, taking calls and sifting through paperwork.

She said interested homeowners can get things started with a simple phone call.

Fisher said, once the application is on file, and the loan has been approved, doesn't mean you have to take it.  Rates go up and down, but as long as homeowners stay in contact with their lenders, the decision is still up to them if and when they choose to lock in their new rates.

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