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Mortgage Calculators: Comparing FRMs and ARMs
August 17, 2000, Revised March 18, 2003 Borrowers trying to decide whether they should select an adjustable-rate mortgage (ARM) or a fixed-rate mortgage (FRM) based on the lowest after-tax interest cost can now use calculators 9a and 9b. These cover ARMs that don't allow ... more... What Is the Real Price of an Adjustable Rate Mortgage? January 19, 2004 ARMs are complicated instruments. No one characteristic fully describes one. This is why, when readers ask me for the pros and cons of COFI ARMs, or Libor ARMs, or flexible payment ARMs, I get heartburn. You can?t assess an ARM based on only one of its features ... more... |
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mortgage loan index comparison related definitions |
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Second Mortgage, Home Equity Loan
Second Mortgage, Home Equity Loan A secured loan (mortgage) that is subordinate to another loan against the same property. More specifically, the second loan in sequence. Generally, second mortgage hass a higher interest rate and with shorter terms than a ... more... Negative Amortization Negative Amortization Negative amortization, also known as Neg Amortization, NegAm, NegAmMort, occurs when borrower pays back less than the full amount of interest owed to the lender each month. The difference betweeen full interest and paid amount is added to the total amount ... more... |
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More about mortgage loan index comparison
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