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Should You Fear Negative Amortization?
November 20, 2000 " When my real estate agent turned me over to a loan officer, he said 'Don't put Charlie into an ARM (adjustable rate mortgage) involving negative amortization', and the loan officer said 'Don't worry'. I didn't want to confess my ignorance, but what ... more... Should I Refinance a Very Old Mortgage? November 2, 1998 "I am a 62 year-old widow living on a fixed income? I have thought about refinancing my home while the rates are low? I have about 10 more years to pay on my 8.5% loan and payments are currently $300 monthly. Am I wise or foolish to try to refinance? I ... more... |
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best mortgage deal interest home loan remortgage monthly payment related definitions |
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Negative Amortization
Negative Amortization Negative amortization, also known as Neg Amortization, NegAm, NegAmMort, occurs when borrower pays back less than the full amount of interest owed to the lender each month. The difference betweeen full interest and paid amount is added to the total amount ... more... Second Mortgage, Home Equity Loan Second Mortgage, Home Equity Loan A secured loan (mortgage) that is subordinate to another loan against the same property. More specifically, the second loan in sequence. Generally, second mortgage hass a higher interest rate and with shorter terms than a ... more... |
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