Everyone has an ideal home that they want to live in someday, unfortunately not many Americans ever find the home of their dreams. Due to astronomical interest rates on home loans from banks, many home buyers are forced into shady mortgages that banks know they can’t afford. In November of 2015 it was estimated that one out of every 1,269 homes would experience foreclosure — here are some tips and tricks for dealing with home mortgage lenders.
The Details Behind Mortgages
A typical mortgage consists of a loan that is paid off over 15 or 30 years; the sum of money borrowed from a mortgage lender is referred to as the principle. Home buyers must pay interest on their mortgage, which varies based on income, credit history, and down payments. The Home Loan Learning Center f (more…)
05 Jan 2016