Aug
26
2008
Michael Adul'Ali
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The past six months have been heart-stoppingly volatile for homebuyers.
The “easy” money available in the lending markets in prior years has dried up and lending criteria have tightened significantly.
Homebuyers and speculators who took advantage of adjustable-rate mortgages found that when the rates reset, the monthly mortgage payments were unaffordable. |
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Tags: adjustable rate mortgage, conventional home mortgage, conventional mortgage, fha approved lenders, home mortgage lenders, home mortgage loan, low rate mortgage, year adjustable rate mortgage
Aug
22
2008
Michael Adul'Ali
Buying a new home can be overwhelming. Knowing the common terms used by lenders and real estate agents will help you feel more comfortable through the process of buying a new home. Below are a number of these terms with an explanation of what they mean to the homebuyer. Continue Reading »
Tags: adjustable rate mortgage, annual percentage rate, balloon mortgage, balloon payment, cash reserves, low rate mortgage, year adjustable rate mortgage
