What is subprime mortgages - What You Need to Know About Mortgages



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Mortgage Professor about subprime mortgages:

Second Mortgage Versus Home Equity Loan
June 9, 2003, revised August 30, 2003 "What are the differences between a second mortgage and a home equity loan?" The terminology is confusing. A second mortgage is any loan that involves a second lien on the property. Some second mortgages are for a fixed dollar ... more...

Do Secondary Mortgage Markets Help Borrowers?
October 7, 1999, revised April 2, 2003 "In a recent column you said that there was no serious downside to borrowers from having their loans sold, but you didn't point to any upside to the practice, either?Don't loan sales raise costs, ... more...

subprime mortgages related definitions

Mortgage Broker
Mortgage Broker A company or a qualified person that obtains mortgages for borrowers by finding lending institutions, insurance companies or private sources to lend the money. If a person, mortgage broker called a loan officer. A mortgage broker works for you, not for the ... more...

Adjustable Rate Mortgage, ARM
Adjustable Rate Mortgage (ARM) Also known as a variable rate mortgage. The interest rate on these mortgages changes periodically. Variable or adjustable loans are loans whose interest rate fluctuates over the period of the ... more...

More about subprime mortgages

Get Free subprime mortgages Quotes and Estimates
Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

What You Need to Know About Mortgages
Business stuff can be downright confusing especially when confronted with rates, numbers and the banking jargon that seem alien language to you. Still, you do not really have much choice as loans, interest rates and mortgages are words that you can either understand and study or risk losing the ... more...

Fixed Rate Mortgage Loans - Understand the Pros and Cons of the Fixed Rate Mortgage
There are many benefits and drawbacks to consider when deciding if a fixed rate mortgage is right for you. It is important to look at all options when it comes to something as important as getting a mortgage for your new home.There are a few benefits to fixed rate mortgages. One benefit is that the ... more...

Mortgages for Dummies: Option Adjustable Rate Mortgages
Housing prices are at record highs. This has made purchasing a new home a very expensive proposition. In response to this mortgage lenders began offering products with lower monthly payments; this allowed people to qualify for larger loan amounts.The problem with these new loans is that they come ... more...

Reverse Mortgages a Reversal of the Mortgage Process
Mortgages have assumed a number of characters from the time of their inception. The traditional mortgages used to be of the repayment type. Every month the mortgagor used to pay a certain amount towards both principal and interest. Sensing the hardships that people have to face in making these ... more...

Credit Problems? With a Subprime Mortgage Lender, Poor Credit is Not a Problem
Have you been turned down for a home loan recently because you have a bad credit history? You may want to consider applying for home financing with a subprime mortgage lender. A subprime mortgage lender is one who specializes in providing financing for people who are difficult for most mortgage ... more...

Home Mortgages: Should You Apply Now?
If youre thinking about applying for a new mortgage or refinancing your current mortgage, you might want to take action now.In its survey this week (the week of Aug. 1), Freddie Mac, the corporation that finances many of the countrys mortgages, reported that rates on 30-year, fixed-rate mortgages ... more...

Gearing Up for Bad Credit Mortgages
Mortgage would have never happened, had mortgages been a no profit venture for the mortgagees or the mortgage providers. The lender receives much more than he had actually lent. And you feared that you would not qualify for the mortgages having a bad credit history. Mortgagees somehow find ways to ... more...

Hard Money Loans - Reasons Why You Might Want To Try Applying With A Subprime Mortgage Lender
Before you apply for a hard money loan, try applying with a subprime mortgage lender first for lower rates and fees. Hard money lenders charge excessive fees to high-risk borrowers, but will only lend 50% to 75% of the value of the property. On the other hand, subprime lenders offer loans to ... more...

Mortgages For Dummies: Mortgage Term Length
Mortgages are the most intimidating aspect of home ownership. Choosing the wrong mortgage can cost you thousands of dollars and possibly one day, your home. You need to do your homework before shopping for a mortgage loan.Term length is an important aspect of your mortgage. The term will ... more...

Reverse Mortgages: Information You Need to Know
Reverse Mortgages are exploding in popularity and as the baby boomers reach age 62 and beyond they will become eligible to cash in on their home equity with a reverse mortgage.A reverse mortgage is a home loan that you do not have to pay back for as long as you live in your home. It can be paid to ... more...

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