December 11, 2013
Interest-only or option-ARM minimum payments may be risky if you won’t be able to afford the higher monthly payments in the future. For example, suppose you […]
December 11, 2013
• Rising monthly payments and payment shock. It is risky to focus only on your ability to make I-O or minimum payments, because you will eventually […]
December 11, 2013
A payment-option ARM is an adjustable-rate mortgage that allows you to choose among several payment options each month. The options typically include a traditional payment of […]
December 11, 2013
Traditional mortgages require that each month you pay back some of the money you borrowed (the principal) plus the interest on that money. The principal you […]
December 11, 2013
Owning a home is part of the American dream. But high home prices may make the dream seem out of reach. To make monthly mortgage payments […]
December 11, 2013
Over the last several years, our nation has made enormous progress in expanding access to capital for previously under served borrowers. Despite this progress, however, too […]
December 11, 2013
Effective July 21, 2011, the Real Estate Settlement Procedures Act (RESPA) will be administered and enforced by the Consumer Financial Protection Bureau (CFPB). If you are a […]
December 11, 2013
With interest rates still near historical lows, it may be tempting to refinance to a lower rate. Here are five questions you should ask yourself before […]
December 11, 2013
Homebuyers who use conforming loans insured by FHA can pay as little as five percent down to borrow up to $417,000. But to qualify, you need […]