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Residential Mortgage Tied to Prime Rate

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Have you ever heard that a bank cannot tie a 1st mortgage loan secured by a borrower's residence to Prime?

All our Home Equity Lines of Credit and in-house mortgage loans are tied to the Wall Street Journal Prime. The reference may be that you cannot tie a HELOC to your bank's internal prime - an index you control.

First published on 11/15/04

First published on 11/15/2004

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