The sub prime market for home mortgages is a hot bed of predatory practices. These types of lenders prey on the elderly, borrowers with poor credit who have few options, and less educated and non English speaking customers. They give the entire industry in general and other good sub prime lenders more specifically a bad name.
Mortgage Products: The Adjustable Rate Mortgage
Youve found the home of your dreams, youre pre-qualified for a loan, and everything looks absolutely rosy. At first.
How To Compare Mortgage Quotes
So you’re interested in buying a house and you’re looking at home mortgages online. Whether you’ve decided on a fixed rate mortgage, an adjustable rate mortgage or any of the other various types of mortgages offered, there are several things to be sure to look at when comparing the offers.
Good Things And Bad Things About ARM Loans
Just like the saying “Every rose has its thorns”, every mortgage has its risks and benefits. The type of mortgage you obtain will depend upon your individual situation and what you think you “really” need. The purpose of a specific mortgage loan type needs to be considered here since the decision for one mortgage loan over another is based on its true purpose. So, do not go and choose a loan that you think you want, simply because it means that you will have to pay less in mo…
Adjustable Rate Mortgages: Good Or Bad?
Deciding whether or not to finance your home using an adjustable versus a fixed rate mortgage is a very important decision. Each of these options has both strengths and weaknesses. However, the final decision comes down primarily to ones level of personal and financial risk, as well as to a simple matter of preference.
Adjustable Rate Mortgage Snafu
Unfortunately we are all aware of the mortgage industry scandal and the sub-prime loan issues. I get a little upset when they try to hang the blame on independent mortgage brokers. Personally, I think it is the banking industry’s attempt to put the independent broker out of business. The broker surely didn’t write the lender’s guidelines. So, … who’s fault is it?
An Adjustable Rate Mortgage Can Be The Best Option
An adjustable rate mortgage, ARM, is a mortgage that has a varying interest rate on the note.
The Pros and Cons of Adjustable Rate Mortgage
An adjustable rate mortgage, commonly referred to as an ARM, is a mortgage where the interest rate on the mortgage changes periodically, on a schedule, according to an index.
Non Comforming Loan Comparison: Adjustable Rate Mortgage Versus Fixed Rate Mortgage
Are all mortgage loans the same? Or can making a choice between one particular type of mortgage get you in trouble if you arent careful. In the case of an adjustable rate mortgage versus a fixed rate mortgage it is true that all mortgages are not alike. Of course in many cases the type of refinance loan you can secure has to do with how good or bad your credit has been over the years.
Mortgage Advice: 7 Tips for Establishing Credit
According to Experian, a credit score is a number lenders use to help them decide: “If I give this person a loan or credit card, how likely is it I will get paid back on time?” The information from your credit reports is used to create your credit score. Before getting a line of credit, get your free credit report from each of the three major credit reporting agencies (CRAs): Experian, Equifax, TransUnion. Under federal law, you are entitled to one every year.
Achtung ! Stay Away From Adjustable Rate Mortgages …
Adjustable rate mortgages may offer low rates, but they may not be the best option right now. Here’s why …
Adjustable Rate Mortgages: This Home Mortgage Loan May Not Be For The Weak At Heart
I heard the news about another interest rate hike and thought it was about time to look into refinancing my mortgage. I contacted my mortgage company first.