Adjustable Rate Mortgage (ARM)
“adjustable Rate Mortgage”?
Like what is good about it… is it “ideal”.
What are the bad things about it?
How about in the long run?
Just I guess the general meaning.
Like what it means when they say a 5 yr fix ARM or 5/1 ARM
thank you
Can I Refinance If I Owe More Than My House Is Worth?
We’ve lived in our house for about 8 years now, and our first mortgage is about 195K and we have a second on it and that balance is 79K. Our first mortgage was a 5-year 4% ARM that we got in 2002. The agreement after our ARM was up was that it couldn’t [...]
$700b Bail Out- I Oppose It. How About This Plan?
Economists please chime in. Review and provide comments.
1. We refinance all the mortgage loans -especially delinquent loans -perhaps leaving out 30 year loans or just including adjustable/5 year or 7 year loans-at today’s house values. And fix the interest rate at lowest possible rate for 10 years. This will give people confidence, decrease or fix [...]
Who Is The Best Bank To Go With In Reference To Reverse Mortgages?
My parents live in PA & are of age & they do qualify, but I’m getting a lot of mixed reviews & conflicting quotes, I’m trying to help them out, but I’m as confused as they are, we’ve been sent packages, they’re just more confusing…My dad’s credit union doesn’t do them & neither does Citizens [...]
I’m Trying To Get A Loan Off My Parents House (about 250k), Should I Be Getting A Home Equity Line Of Credit?
I understand that the loan amount must be equal to or less than 80% of the property value, I’m just not sure what type of loan I should be looking for. In addition, I went to a bank and they said the loan will be adjustable, I also asked my mortgage broker friend the [...]
Predatory Loan?
I recently pirchased a home. I’m wondering if the loan was predatory. Here’s the deal. I became disabled and was in br – Chap 7 due to bills piling up during my illness.
The lender I went through did the loan. The first quote was for 2% lower than what I am paying. As I was [...]
Is This A Good Time To Refinance My Home? (az)?
We bought our house on 7/11/06 for 123,900. we used 100% financing of about 80/20.
our first loan is now $99,052.98 and 7.85% fixed.
our second loan is now $24,570.94 and 10.85% fixed for another 18 months before it goes ARM.
the total mortgage is now $123,623.92 .
our total monthly payment is $772.16 and $233.18 (respectivly) for [...]
If Sub-prime Lending Is So Risky, Why Do Banks Encourage It?
From what I understand, the subprime market is filled with predatory lending practices that prey on uninformed home buyers who are bilked into paying sky-high adjustable interests rates- but if most of them aren’t even able to repay their loans in the first place, a fact in which most lenders are well aware, in what [...]
Whats The Next Step When U Have A Fha Loan?
and ur bank is telling u that ur current credit situation doesn’t allow u to refinance ur current mortgage from a 8.9 adjustable to a fixed rate 30yr only..no Additional moneys borrowed. If Im paying my current mortgage why is the bank telling me I cant pay a refinanced mortgage that would [...]
Why Is It My Job To Pay For Banks Who Make Poor Decisions Or Homeowners Who Decide Not To Pay Their Mortgages?
Banks are private businesses. They decided to loan money to people who could not pay them back. The homeowner either decides to not pay the money back because the value of the property is lower than the remaining amount of the loan or they can’t make the payment because the adjustable rate now [...]
