by Michael Olear | Jul 24, 2010 | Buyers, Sellers
NEGATIVE AMORTIZATION ? The loan balance increasing over time (often due to monthly payments being less than the interest owned). PARTY-HAT MORTGAGE ? Michael made this up to be funny. PITI ? An acronym for payments to a lender that cover principle, interest, taxes...
by Michael Olear | Jul 11, 2010 | Buyers, Sellers
ABSTRACT ? A written history of public records on property. ADJUSTABLE RATE MORTGATE (ARM) ? These loans have an interest rate which changes periodically according to a specified financial index. AMORTIZATION ? Repayment of your loan through scheduled installment...
by Michael Olear | Jul 2, 2010 | Buyers, General
Home renovations can be daunting, but financing them doesn?t need to be.? Homebuyers considering a fixer-upper and home owners thinking about doing major rehab work might want to consider an FHA 203K loan. Often called rehab or renovation loans, 203K loans differ from...
