Comments for Alan's Mortgage Blog

Comment on Homes Get More Affordable On March Jobs Data by Mishra

Mishra — Tue, 08 May 2012 17:50:09 +0000

In an interest-only loan or the boroewrr only pays interest each month. This makes it cheaper than a conventional mortgage, in which part of each month’s payment goes towards the principal and part goes towards interest. These loans have become popular because the monthly payments are lower, allowing boroewrrs to afford a larger home.However, these loans can be dangerous, especially in a down housing market. The interest rates are generally fixed for the first 1, 3 or 5 years. After that, they convert to a conventional loan, with a higher monthly payment. Most boroewrrs take on these loans because they assume they will sell the home before the interest rate increases. In a down market, they may not be able to sell. If they cannot afford the increased payment, they may have to default on the loan, and foreclose on the home. So, when the rate starts to adjust, you would need to refinance again. And, either get a fixed or another interest only adjustable. And, yes, I do believe you mean ARM. Although, if you have extra money every so often, you can pay down the principal in extra payments.

Comment on Nevada Relinquishes “Top Foreclosure State” Title by William

William — Tue, 08 May 2012 16:35:41 +0000

Repo’ed poreprties : Repossessed poreprties are poreprties the owners eventually had no method of refinancing, and not enough revenue to support their mortgage even if changed. This can clear the banks from its books to make allowance for new financing. Damages charged to borrower are to survive insolvency protection. The demand made will tighten supplies which, in turn will generate a reasonable inflation, increase asset valuation, and at last lead straight to increased rates and increase the GDP ( GDP ).

Comment on Mortgage Rates Fall For Third Straight Week by FirsTrust Mortgage Wichita

FirsTrust Mortgage Wichita — Fri, 20 Apr 2012 19:19:49 +0000

Interesting numbers! Thank you for sharing!

Comment on Housing Starts Stay Strong; Building Permits Rise. by Kavin Matthews

Kavin Matthews — Mon, 20 Feb 2012 12:12:18 +0000

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Comment on Friday’s Jobs Report Represents A Big Risk To Low Mortgage Rates by Alyssa Youmans z

Alyssa Youmans z — Tue, 20 Dec 2011 12:35:37 +0000

One direct connection between the secondary stock market and the monetary system is the employee incentive stock option.

Comment on Have Mortgage Rates Bottomed Out? by Gabriel Ranukete

Gabriel Ranukete — Sun, 18 Dec 2011 14:30:05 +0000

The US economy is showing signs of life and interest rates are already aching to go higher.

Comment on What’s Ahead For Mortgage Rates This Week : October 24, 2011 by Myrina Stein

Myrina Stein — Tue, 25 Oct 2011 07:04:17 +0000

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Comment on Adjustable-Rate Mortgages Starting To Adjust Higher by JC

JC — Tue, 13 Sep 2011 14:13:20 +0000

Appreciate the information. Agree, things are changing quite rapidly. Your article is very timely and provides the insights needed to make “informed” decisions.

Comment on Adjustable-Rate Mortgages Starting To Adjust Higher by DDC

DDC — Tue, 13 Sep 2011 13:57:14 +0000

Excellent summary. Thank you for the information.

Comment on For The 9th Straight Month, Foreclosure Filings Fall by Terry Guerrero

Terry Guerrero — Fri, 15 Jul 2011 17:21:48 +0000

I have noticed the forecloure decline, I’m very active in this market and am constantly looking for foreclosures because I am also a property flipper. The only problem is that there are no more sub prime loans which lead to our peak in 2006 I think that here in SA we have plateaud now which means we went back to the norm, would you agree?