Balloon loans are short term mortgages that have some features of a fixed rate mortgage. The loans provide a level payment feature during the term of the loan, but as opposed to the 30 year fixed rate mortgage, balloon loans do not fully amortize over the original term. Balloon loans can have many types of maturities, but most balloons that are first mortgages have a term of 5 to 7 years. At the end of the loan term there is ... : Balloon mortgages
blanket mortgage
A blanket loan, or blanket mortgage, is a mortgage lient securing several parcels of property, frequently used by developers who have purchased a single tract of land intending to subdivide into individual parcels. The developer normal requires a 'partial release' clause so that individual parcels can be released from the blanket mortgage as they are sold.... : blanket mortgage
Conventional Mortgage
Most mortgages are conventional, the terms just vary. A conventional mortgage to most people is a 15 or 30 year fixed rate mortgage with at least 20% down.... : Conventional Mortgage
Adjustable Rate Mortgages (ARM )
ARM’s are mortgages whose rates adjust according to the terms of the contract you made with the lender.Usually interest rates are fixed for the first 1, 3, 5, 7 or 10 years. After that period is up, rates will be allowed to fluctuate within the limits of your contract with the lender.Terms are usually 15 or 30 years (although you can negotiate just about any duration you want). There can be a balloon involved.Becaus... : Adjustable Rate Mortgages (ARM )
Treasuries Flat Before Treasury Note Sale
By Ellen Freilich NEW YORK (Reuters) - U.S. Treasury prices opened unchanged on Wednesday ahead of a $24.0 billion two-year Treasury note auction scheduled for later in the session. The market was flat after steadying on Tuesday following a three-day selloff. Most trading desks are operating with a reduced staff between holidays. Analysts said this could create a somewhat thinner bid for the new two... : Treasuries Flat Before Treasury Note Sale
Florida House Mortgage Resources
Check out our great florida house mortgage information.
(1 to 5-year terms are most common but can go as high as 10+ years):These types of mortgages have structured repayment schedules with specific amounts due on a weekly or monthly basis. They usually have the lowest interest rate available but cannot be prepaid or discharged before the end of the term without h... : Closed Mortgage
Open Mortgage (6-month to 1 year terms are most common):
Allows borrowers to repay all or part of the principal amount of their mortgage at any time without penalty. You usually have to pay a higher interest rate for this type of mortgage since it offers greater prepayment flexibility. This flexibility makes open mortgages ideal for homeowners who plan to sell in ... : Open Mortgage (6-month to 1 year terms are most common):
Mortgage delinquencies
Tuesday, February 01, 2005
Mortgage delinquencies down for conventional loans, but up in other categories
Mortgage delinquencies for conventional loans in 2003 dropped from the 2002 figures, according to the latest numbers available to mortgage bankers. Arthur Cox, director of the Real Estate Education Program at the University of Northern Iowa, says that it looks like the figures may have dropped again for 2004.
While he's not quite sure why this is happening, Cox says it's interes... : Mortgage delinquencies
Graduated-payment mortgage (GPM)
A mortgage loan requiring lower payments in early years than in later years. Payments increase each year until the installments are sufficient to pay off the loan.... : Graduated-payment mortgage (GPM)
Greenspan Urges Curbs Amid New Problems at Fannie
By Kristin Roberts WASHINGTON (Reuters) - Federal Reserve Chairman Alan Greenspan on Wednesday told Congress it must curb the rapid growth of Fannie Mae and Freddie Mac to cut the risks the mortgage finance giants pose to the financial system, just as a U.S. regulator unveiled new accounting problems at Fannie Mae. Despite tough words from the Fed chief and regulator, shares of Fannie Mae and Freddie Mac ... : Greenspan Urges Curbs Amid New Problems at Fannie
