Daily interest mortgage loans can cause the loss of your home.
Interest and Fees
Adjustable Rate ARM: This loan features a lower rate at the beginning of the loan with periodic adjustments, typically 6 months or one year, based on the moving London Interbank Offered Rate LIBOR. Many ARM loans contained artificially low teaser rates that kicked in addition to the LIBOR reset rate. Fixed Rate: The most common [...]
NC Governor Mike Easely signed a law making NC the first state to ban mortgage brokers from charging borrowers for unnecessary and unneeded surcharges such as “yield spread premiums” which essentially gives a kick-back to brokers who guided borrowers into higher interest loans subprime loans – whether they need it or not. The Center for [...]
Mortgage brokers tend to charge more to place a loan than you would have to pay if you went directly to the lender, according to a recent HUD Study. This is not a surprise to consumer advocates but it tends to contradict the story told by mortgage brokers and their lobbyists. There’s a shocker! The [...]
The sub prime loan crisis has caused a rapid decline in home values across the country. This has depressed the middle class consumer and caused a cutback in many industries related to residential construction. When consumers feel that they have less equity in their homes, they slow their discretionary purchases. This slow down in consumer [...]
When shopping for a mortgage loan, most consumers are concerned with the interest rate of the loan. Within the past five years, interest rates on mortgages have hit historical lows and many home loans have been made. But there is more to a mortgage loan than the interest rate and a careful shopper will look [...]
