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Lies Mortgage Shoppers Hear
December 2, 2002, Revised July 16, 2004 "I am about to shop the market for the mortgage I need to finance my home purchase. Is there a danger that people won?t tell me the truth? Any lies I should look out for in particular ... more... How Does Simple Interest Work? January 5, 2004 "What are the benefits/drawbacks of a simple interest loan versus a traditional mortgage? Which would you take if offered the choice?" I would select a traditional mortgage. If ... more... |
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poor credit loan creditors simple interest property refinance related definitions |
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Equal Credit Oportunity Act
Equal Credit Oportunity Act (ECOA) Is a federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status or receipt of income from public assistance programs. ... more... Refinance Refinance Refinancing refers to applying for a mortgage loan intended to replace an existing loan secured by the property. Homeowners usually consider refinancing for the purpose of getting a better interest rate, loan term, or to draw cash from the equity. ... more... |
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