The Top 10 Reasons

1. The Option Arm Mortgage has a number of different names. It has been called the Option Arm Loan, Pick A Payment Loan, Neg Am Loan, and the Negative Amortization Mortgage. All of these names describe the same mortgage. All that really happened was that each mortgage company decided to change the wording of the loan [...]

1. The negative amortization mortgage was not the only reason but it did play a major role. At one time last year some major lenders like Countrywide had something like 8% of their mortgage portfolio in the State Of California were Negative Amortizing loans. As most of us know home prices in California are not cheap [...]