From the monthly archives:

January 2008

January 31, 2008

Flexible Payment Mortgage (Option ARM)

Once I googled for Option ARM and the top search result read Nightmare Mortgages. Very … hmmm … intriguing, isn’t it? Well, as I always say, you have to have a clear idea of how a mortgage plan works. Once you are sure, that you understand it, you can decide for yourself, whether such an [...]

January 26, 2008

Adjustable Rate Mortgage

The Adjustable Rate Mortgage does not seem to be very attractive to borrowers mostly because of the apparent complexity of its mechanism. When people hear about market indexes, constantly increasing rates and negative amortization, they don’t want to listen to this any more and just go for the good old Fixed Rate Mortgage. Before you [...]

January 25, 2008

Fixed Rate Mortgage

I don’t think it’s hard to understand why a Fixed Rate Mortgage has been the most popular type for decades – most people like stability, and that’s exactly what they get with this kind of mortgage: the Interest Rate is fixed throughout the life of the loan; the monthly payments are fixed, too, if you [...]

January 19, 2008

Types of Mortgages

A mortgage will become your biggest debt in years! For most people it is true, but it not as scary as it may sound. When you have the knowledge, when you understand what exactly is going on, when you are in full control of the situation – trust me, it is not scary! I am [...]