Last month, Fannie Mae and Freddie Mac all but ended Interest Only Mortgage loans, so the only loans left are Amortizing Mortgages. (Some borrowers can still get an Interest-Only style mortgage, but they are very restricted now). If you have ever closed on a mortgage, you probably remember the large stack of paperwork you needed [...]
Read the full article →You often have to choose how to balance your savings between “liquid” cash, paying off bills, saving for retirement or college and paying down the mortgage. If the Great Recession has demonstrated anything, it’s that home equity is a poor choice. You can find out a lot more about this in previous blog posts. I’ve [...]
