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Mortgages: Still Mysterious

Despite the plethora of information on the Web and elsewehere, Zillow tells that according to their data, one-third of prospective homebuyers don't understand mortgage basics. "31 percent of buyers surveyed don't think that it is possible to get a mortgage for less than 5 percent down and one in four buyers believe you will almost always get the best mortgage rates and fees through the bank where you have a checking account." Homeowners also need to go back to school: "An estimated 14.9 million homeowners said they did not believe it was possible for underwater borrowers to refinance." May we suggest matriculation at Curbed U? [Zillow/photo via Shutterstock]