The,Truth,About,Mortgages,Have finance, share, loan The Truth About Mortgages


If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that


Have you heard that the current mortgage crisis could affect you?
  • • What can you expect if you happen to have an “adjustable rate” mortgage or a subprime loan?
  • • What does the term “credit crunch” mean?These and many other questions are the topic of conversation of every media outlet. When we get down to it, the changes in lending practices are important. Being informed now, could save you from a headache later.If you purchased a home or refinanced a home in the last to or three years, these questions can be a starting point as you prepare to talk to you lender.
  • • What loan products do you have?
  • a. 30 Year Fixed Rate
  • b. Adjustable Rate
  • c. Interest Only
  • d. Payment Choice Arm (negative amortization)
  • • What is the margin and index of the adjustable rate?
  • • When is the next adjustment period?
  • • On what basis did the loan officer you worked with qualify you?I could go on with these questions but the bottom line is if you cannot answer most of these questions about your mortgage, then you should consider contacting your lender now. At the very least you need to have a mortgage checkup! Getting a second opinion is also recommended. Finally, here are some additional questions to ask.
  • • What is going on with the property values in my neighborhood?
  • a. Are they increasing?
  • b. Are they stagnant?
  • c. Are they declining?Property values influence the value of your home and your borrowing power. The new mortgage environment is definitely going to affect homeowners. Refinancing qualifications have changed. Appraisal values influence the guidelines used to qualify loans. Everything has changed!Get informed today. Have you called your loan officer, lately?
  • The,Truth,About,Mortgages,Have

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