Question by McCardle D: Are there any surprises to look out for with a home loan loan refinance? Best answer: Answer by bigtalltom Adjustible rate mortgages. the upfront refinance costs (can be VERY high) Reverse-amortization mortgages (or interest-only) I’m sure there are others I’m not thinking of What do you think? Answer below!
Question by Sharona: What is a “Balloon Payment Loan” and is it anything like a ARM loan? Best answer: Answer by KConsults A loan with a balloon payment usually amortizes over a certain period of time (say 30 years for example) but the loan is due and payable before the amortization period is up (say [...]
Who are the people that are defaulting on their mortgages? which companies (industries) are involved in this? Additionally does this go on in some regions more than in others? what effects does it have on the economy and our daily lives? what can be done to prevent further morgage defaults and fix the tumbling economy? [...]