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What Is A 40-Year Fixed Mortgage And Should I Get It?
The housing market has become so stretched that the affordability ratio for first-time buyers has deteriorated to levels last seen in the third quarter of 1989. Bids evaporated and new home sales dropped 20% in response to the situation at that time.
Sky-high prices are not preventing cash-strapped consumers now from getting the house of [...]
Things You Should Know About Adjustable Rate Mortgages
An adjustable rate mortgage (often referred to as an ARM) is a type of loan that offers a varying rate of interest at different times during the repayment period. These rate changes often occur on an annual basis, and depend on market conditions as to whether the rate will increase or decrease. ARMs are attractive [...]
Should Seniors Use Reverse Mortgages?
Some of the most popular products being pitched to seniors today are reverse mortgages. Everywhere you turn there are free seminars, free reports and free DVDs, all touting the amazing benefits these loans offer. Are reverse mortgages the answer to seniors prayers, or are they too good to be true?
It all sounds so [...]
How Much House Should You Afford?
Making financial decisions is part of life. So is dealing with the consequences of those decisions, whether positive or negative. Let’s talk about the decision to buy a home, and what the positive or negative consequences of that might be.
Home ownership is one of the symbols of adulthood and independence we all strive for. Ironically, [...]