This short video explains how interest rate locks work and the difference between "Hard" locks and "Float Down" locks.
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Wednesday, June 13, 2007
Rate Locks
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A mortgage is a method of using property (real or personal) as security for the payment of a debt. The term mortgage (from Law French, lit. death vow) refers to the legal device used in securing the property, but it is also commonly used to refer to the debt secured by the mortgage, the mortgage loan.
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