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January is officially history and there was a tremendous amount of volatility. On today's show I share how you can turn the lemons of January into sweet lemonade that can provide complete peace of mind on one of your largest assets (your home).

Specifically we cover:

• Why have fixed mortgage rates dropped? (hint Econ. 101)
• 15 year or 30 year fixed rate mortgage? Hopefully my insight can help you decide.
• How is your mortgage interest rate impacted by discount points and loan origination fees. I also provide you with an example of break even analysis that will determine if you should buy down your rate.
• I am sure many of you have heard the ads for no-cost mortgage refinances. I provide you with the information to understand what a true «No Cost» refinance is and how to determine if it is right for you.
• Understanding what Escrow is and how it impacts your mortgage
• I also discuss the importance of understanding the «Good Faith Estimate of Closing Costs» as well as the «HUD-1 Settlement Statement».

I have also provided an article that should provide you with insight into what closing costs that you can negotiate on as well as what you should expect to pay. Check out the SmartMoney.com article titled «Cut Those Closing Costs!»

Thanks for the great emails over the last week. I have heard you guys loud and clear. The Money Guy Show format will retain its focus of educating you on important financial planning issues and topics primarily through my insight and experience (listener questions will be addressed through show topics, but actual phone calls from listeners will not be the primary focus of the Money Guy Show). In the future when opportunities come to interview individuals that are interesting or experts in areas that I believe we can learn from I will add those interviews to the Money Guy Show. Thanks again for your feedback. If you would like to contact me please feel free to email me at Brian@MoneyGuy.net

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