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third quarter of 2005, 72 percent of Freddie Mac-owned loans that were refinanced resulted in new mortgages with loan amounts that were at least first rate mortgage percent higher than the original mortgage balances, according to Freddie Mac’s quarterly refinance review. This share is unchanged from the second quarter of 2005. A VA loan is a mortgage loan in the United States guaranteed by the Veterans Administration. The loan may be issued by qualified lenders. The VA loan was designed to offer long-term financing to American veterans or their surviving spouses (provided they do not remarry). first rate mortgage promissory note is a contract detailing the terms of a promise by first rate mortgage party (the maker) to pay a sum of money to the other (the payee). The obligation may arise from the repayment of a loan or from another form of debt. For example, in the sale of a business,


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