July 29, 2009
Wanting to lie in wait for near give-away home prices along with a fear of overpaying for property is in the minds of more than a few prospective homebuyers.
But just like trying to time the bottom of the mortgage market is a lose-lose deal, so is the timing of home prices.
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July 22, 2009
Most borrowers have always been accustomed to getting 30-year fixed mortgage loans. Even when not practical, many still want the 30-year fixed rate.
But for anyone moving/selling within 4 to 7 years, some thought should be given to a more short-term mortgage such as the 5/1 ARM or the 7/1 ARM.
What is the 5/1 ARM?
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