With the 40 year mortgage becoming increasingly common in states such as California, where high home prices make mortgages less affordable for the average home-buyer, the latest mortgage product has been rolled out-the 50 year mortgage. During the 1980s, mortgage interest rates in America topped 18%, prompting the introduction of the 40 year mortgage. [...]
Posts Tagged ‘Cons’
The 50 Year Mortgage-pros and Cons
Posted by admin on December 27th, 2009
Posted in Articles 
Tags: 40 Year Mortgage, 40 Year Mortgages, Affording A Home, Cons, Current Market, Fannie Mae, Few More Years, First Five Years, Home Buyer, Important Things, Initial Interest Rate, Loan Repayments, Main Stream, Mortgage Interest Rates, Mortgage Product, Mortgage Pros, Mortgage Rates, Mortgagepros, Owning A Home, Pros And Cons, Rate Period, Term Mortgages, Year 
No Comments »Myths, Pros and Cons of Hecm Reverse Mortgages
Posted by admin on December 9th, 2009
First and foremost; the bank does not, nor do they want to own your home. So why do so many people believe this? Prior to FHA getting involved in 1988, the lenders would take an equity position in their Borrowers homes. That practice has resulted in unfavorable feelings towards today’s reverse mortgages. The Federal Housing [...]
Posted in Articles Tags: Borrowers, Cons, Equity Position, Federal Housing Administration, Feelings, FHA, Hecm, lenders, Loan Amounts, Medicare, Medicare Benefits, Money, Mortgage Loans, Mortgage Tax, Mortgages, Myths, Pros, Pros And Cons, Reverse, Reverse Mortgage, Reverse Mortgages, Seniors, Social Security, Upfront Payment, Variable Rate No Comments »