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Mortgage Professor about first house: | |||||||||||||||||||||||
Buying Now Versus Buying Later
August 2, 2000 "Please settle an argument. I believe that we should buy our house now, even though we have no money for a down payment, because our credit is good and we can get a 100% loan. House prices have been rising in our area by about 4% a year. My ... more... The Fictitious Down Payment Scam July 10, 2000, Revised November 17, 2004 ?I offered $289K for a house but was not able to make a down payment. The seller?s realtor told me that so long as I could pay all the closing costs, they would find a way to contribute 5% toward a down payment. ... more... |
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first house related definitions |
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Shared Appreciation Mortgage, SAMt
Shared Appreciation Mortgage, SAM A mortgage in which a borrower receives a below-market interest rate in return for which the lender (or another investor such as a family member or other partner) receives a portion of the future appreciation in the value of the property. May also ... more... 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... |
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