Tuesday, December 7, 2010
Mortgage Regrets?
Do you know what type of mortgage you currently have? According to The Residential Specialist Magazine just 2 years ago 26% of people were clueless as to what type of mortgage they had. Today that number is just 8% as consumers have become more knowledgeable about mortgages. 90% of homeowners say they have no regrets about purchasing their home while the homeowners who do have regrets say they regret their inability to resale the home or their inability to make the payments. Fixed rate mortgages are becoming more popular with 4 of every 5 mortgages being a fixed rate mortgage ( a loan where the interest rate is locked in for the term of the loan vs an adjustable rate mortgage where the initial interest rate is low then adjusts upwards every year). If you need help finding a reputable lender to finance your home purchase let me know and I will recommend several lenders who can get the job done with your best interest in mind.
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1 comment:
Hi Marsha,
Its a good thing more folks are paying attention to their mortgages today. I hope that trends lasts generations and we don't end up with another bank/mortgage mess in about 20 years. I am thinking back to the savings and loan scandals of the late 80s and early 90s.
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