arm
Choosing a Fixed or ARM Option
One of the most important decisions a homeowner will have to make when deciding to re-finance their home is whether they want to refinance with a fixed mortgage, an adjustable rate mortgage (ARM) or a hybrid loan which combines the two options.
The names are pretty much self explanatory but basically a fixed rate mortgage is [...]
Don’t Let Banks Charge You An ARM or a Leg
Why buy the whole mortgage if you’re only using half of it? You’ll find plenty of very conservative people talk about the dangers of an Adjustable Rate Mortgage (ARM) and sometimes they are right. Although for the most part, today’s ARM loans offer very favorable rates and terms.
An Adjustable Rate Mortgage is a loan that [...]
How an Adjustable Rate Mortgage (ARM) Traps You Into a Lifetime of Mortgage Payments?
If you are paying 40% or more of your paycheck to your mortgage, there is nothing left to invest or to enjoy your life. Here is where it gets worse. Your ARM is designed to trap you into a lifetime of payments… That does not make sense right? You plan to [...]
Forewarned is Forearmed with Arm Resets: 3 Things You Should Know About Arm Resets
With ARM resets having taken place and scheduled at some point in the future once more, people must take steps to prepare their finances for any undesirable change in mortgage rates. In this case, forewarned is still forearmed and you should start by familiarizing yourself with commonly used terms associated with ARM resets.
RESET
If 2006 or [...]