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Misperceptions About Interest-Only Mortgage Loans
NOTE: IF YOU WANT THE CRITICAL FACTS ABOUT INTEREST-ONLY WITHOUT ANY FRILLS, GO TO THE INTEREST-ONLY TUTORIAL. April 8, 2003 I continue to be dumbfounded by the claims about interest-only loans reported to me by mortgage shoppers. Whether the claims originate with loan ... more... How Does Negative Amortization on a Mortgage Work? September 15, 1998 Negative Amortization and Related Concepts Ordinarily, the mortgage payment you make to the lender has two parts: interest due the lender for the month, and amortization of principal. Amortization means ... more... |
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Interest only loans online bad credit loan unions apply for related definitions |
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Equal Credit Oportunity Act
Equal Credit Oportunity Act (ECOA) Is a federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status or receipt of income from public assistance programs. ... more... Credit Score Credit Score A single numerical score, based on an individual's credit history, that measures that individual's credit worthiness. Credit scores are as good as the algorithm used to derive them. The most widely used credit score is called ... more... |
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