1. In most instances homes usually can have two mortgages placed as a lien against a property. Under normal conditions you can have a first mortgage and a second mortgage. Some companies during the refi boom were putting a third lien against the property. Local banks and credit unions were the ones that did the third [...]
1. Home loans are getting harder than ever to try to close nowadays with all of the changes going on in the mortgage industry. During the refinance boom years of 2002-2007 everybody could get approved on some kind of loan for the most part. Even if you tried to get approved on a normal conventional [...]
1. During the refi boom of 2002-2007 adjustable rate mortgages always had lower interest rates than fixed rate mortgages. In most cases they were considerably lower. As an example you could get a 3 year ARM with an interest almost 2% lower than a 30 year fixed mortgage. This was the same case for the [...]
