Thanks to Rick Melville, a Sr. Mortgage Planner at Fairway Independent Mortgage in Charlotte for this guest blog post: Winston Churchill once said that “a pessimist sees the difficulties associated with every opportunity and that an optimist sees the opportunities associated with every difficulty.” Just for fun I decided to do a little math problem [...]
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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 [...]
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