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TheStreet: Mortgage applications were down 9% in August as Wells Fargo finds plenty of consumers who literally don’t know how to buy a house.
Once the excitement subsides and the champagne wears off, new mortgage holders face reality, which can be overwhelming.
Advise your clients to avoid PMI if they can do so comfortably. But it's no catastrophe if they end up paying it for a while.
If your client's credit score is below 740 out of a possible 850, they're probably out of luck.
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