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Mortgage Professor about pick payment: | |||||||||||||||||||||||
Adjustable Rate Mortgages with Flexible Payments
19 January 2004, Revised 15 February 2005, 1 August 2005 Flexible payment ARMs carry a variety of names in the marketplace: "1 Month Option Arm", "12 MTA Pay Option ARM," "Pick a Payment Loan", "1-Month MTA", "Cash Flow Option ... more... Mortgage Interest Rate Fundamentals 4 October 2001, Revised November 11, 2004 Some of the questions about mortgage interest rates I get from readers are surprisingly basic. I have to remind myself that one can graduate from college in the US, and even get a PhD, without ever hearing about interest rates in ... more... |
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pick 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... Deed of Trust Deed Of Trust In many states, this document is used in place of a mortgage to secure the payment of a note. Used in many states in lieu of a mortgage to secure the payment of a note. In a deed of trust there are three ... more... |
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