Posted by Batool Shamim on February 27, 2011 ·
Second mortgage is a good option for those who are facing financial problems and are in urgent need of cash amount.The major drawback of second mortgage is that borrowers are more likely to lose their home ownerships if they fail to pay off their first and second mortgages.
Posted by Batool Shamim on April 9, 2010 ·
Well, do you want to borrow form a bank or form another business or any other person? If your answer is no to bank, then surely you are using private mortgage.So for being accurate all the time one thing of severe importance is that you should keep in mind all the risks involved in it and then formulate a contingency plan in case of their happening.Being a private lender you are always going to assume more risk, it you have good personal relations with the borrower.If you agree to enter into a private mortgage, make sure that all the terms and conditions must be in written form.There must be some thing against the loan that act as its security.
Posted by Batool Shamim on April 8, 2010 ·
ARM loans are the loans that facilitates you with the choice of amount of payment for the loan. Initially it looks bit attractive to you, but ultimately they can be very costly and unmanageable for you.ARM stands for Adjustable Rate Mortgage.Its your decision to pick payment you are willing to.there are very huge risks involved in it.So it can be a nightmare for you.
Posted by R. Mak on January 22, 2010 ·
Interest-only mortgages are loans secured by real estate and they are very much viable for the first time home buyers, but most people associate this type of loan to the higher risk, which is not true.
