Finance Articles

Do You Know These 6 Mortgage Terms? You Should

Do you recognize these mortgage terms? If you don't, you should get to know them now. These terms might help you recognize risk in your mortgage loan terms and mortgage process. They will also be beneficial in helping you decide if you are getting the right loan for your situation.

ARM (Adjustable Rate Mortgage) - A mortgage containing an interest rate that, after an initial period, can be changed by the lender. The majority of these contracts handle rate changes by evaluating a pre-determined interest rate index over which the lender has no control.

Due-on-sale clause - A provision of a loan contract that stipulates when the property is sold any outstanding loan balance must be repaid. This prevents the seller from transferring responsibility for an existing mortgage to the home buyer.

Equity grabbing - An unethical type of predatory lending where the loan provider purposely attempts to put the borrower into a loan that will result in a relatively quick default, so that way the lender can ?grab? the borrower?s equity.

Good faith estimate - The standard form from a lender that details any and all anticipated settlement charges that the borrower should expect to pay at closing. The lender is required to provide this document within three business days of their receipt of a loan application. Pay close attention to these details and make sure you understand completely all of the anticipated fees.

Negative amortization - An increase in the outstanding loan balance, resulting from multiple monthly payments that are less than the interest due. Watch out for this type of loan. This kind of mortgage loan is very risky.

Rate protection - Protection for a borrower against the danger that rates will rise between the time the borrower applies for a loan and the time the loan closes. This could help your loan be safer for you and more secure, long term.

http://mortgagesanity.com/2007/01/29/do-you-know-these-basic-mortgage-terms/

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

Tom And Harry's Mortgage Rates
No two mortgagors or borrowers have identical mortgage stories to tell. They might struggle to meet the bills, accrue interest rates for arrearages, or in desperation, refinance to lower their mortgage rates. In the case of two friends, Tom and Harry, their mortgage sagas end in different notes. One had to sell his house fast before it could be foreclosed, while the other is still paying the remainder of his 30-year mortgage.

Obelisk International Names Bulgaria as the Most Bullish Real Estate Investment Location for 2007
Bulgarian property is expected to achieve attractive investment returns in 2007, following the country's accession to the EU and due to factors such as an expanding tourist market and the population's growing affluence, according to analysts at Obelisk International.

Can I get a mortgage with CCJs ?
Can I get a mortgage with CCJs ?

Beat the Credit Crunch With Obelisk Private Finance
Obelisk Private Finance provides complete investment, mortgage and savings solutions to ensure clients beat the squeeze, minimising costs and maximising returns.

Mortgage Relief
Now that so many people are defaulting on their mortgages the federal government is stepping in to offer homeowners some relief Of course, not all homeowners will qualify for the relief but many will

Mortgage leads, A Referral System That works Best For You
I worked for years as a mortgage loan officer. During this time I worked with two highly successful mortgage loan officers. However, their styles were as opposite as they come. These two loan officers were opposites to the point where they basically could not stand each other, and spent most of the day avoiding each other.

For Mortgage-Refinance Help, Get the Best Mortgage Professional, Not a Bank Loan Officer
When you need a mortgage -- either because you are buying, refinancing, taking out equity or getting into investment real estate, you need a good mortgage professional. Now, you may be tempted to go to your local savings and loan, as they may promise lower fees or zero costs.

A Guide To House Repossession & Mortgage Arrears
People in today?s society will have differing attitudes to debt and debt repayment. There will always be those individual?s who take a very ?relaxed? attitude to debt and debt repayment, however the vast majority will take the matter very seriously and in the case of property ownership, they will take any realistic action to make their mortgage repayments on time. Unfortunately there will always be situations out of the control of even the most conscientious borrower.

Valuation Alert Special Situation Advisory on Abcourt Mines with Analyst Coverage and Investment Consideration
Precious Metals Review of Abcourt Mines Inc, offering insight and opportunity afforded investors as Abcourt progresses towards taking the open pit Abcourt-Barvue Silver-Zinc Project back into production and analyst issues recommendation investment opinion. 750 M Pounds Zinc, 20 M Ounces Silver, 220 K+ Ounces Gold and 13 Year Mine Life + Expansion; Market Cap Under $20 Million.

Should You Refinance Home Mortgage Interest Rates?
Why refinance? There are a number of reasons people refinance the loan on their homes. For some, it's a way to take advantage of lower interest rates. For others, it's a means for building equity on their homes faster. For a few, it's a way to tap into the equity they have accumulated in their homes.

Getting The Best Car Finance And Insurance Rates
When you buy a car you want to buy the best car that your money can buy but you want to make sure that your car finance program is equally as good. After you have your car you want to make sure that you have the best insurance, but of course you want to make sure that you have the best price for your great coverage.

Investment Analysis Tools
Even if you conduct a fundamental analysis on your target company, before you invest, you will want to use a few tools to help you dig deeper and discover more about the company. Sometimes, this can be more useful than any charts or graphs you can obtain.

What are the Top 11.5 Criteria for Selecting an Orlando Investment Property
1. Make sure units are larger than 1800 square feet.

John Sauro of North Atlantic Mortgage Releases New Audio Book on Amazon, Inside the Mortgage Market
New Audio Book, Inside the Mortgage Market, Tips for Buying and Refinancing Real Estate, Now Available on Amazon