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Second Mortgages
Secondary financing obtained by a borrower. They can be fixed in amount or take the form of a Home Equity Line of Credit, which is simply a revolving credit line secured by a house.Homeowners use these forms of financing to consolidate bills, do home renovations, put their kids through college, etc. They are tapping into the equity they have in their house to use for ... : Second MortgagesInterest Only Mortgages
This is just what it says. You only pay interest, the principal is never reduced.This is the grand daddy of all balloon mortgages and you taking a big risk that your house depreciates in value rather than the other way around.You could very well have to come up with extra cash at closing.The payments are much lower than on a normally amortized mortgage and if you have the discipline, it can be... : Interest Only MortgagesWhat is a Blanket Mortgage?
A Blanket Mortgage is a type of mortgage can save a lot of time to those of you who have multiple plots of land. It allows you to place two or more plots of land under the same mortgage. This way you don’t have to get individual mortgages on each lot. For instance if you buy a huge plot of land and divide it into, we’ll say, 8 lots. Instead of getting individual mortgages on all eight lots, which would be incredibly time consuming, you can bunch it all into one mortgage.... : What is a Blanket Mortgage?Data Offer Mixed Reading on U.S. Economy
By Tim Ahmann WASHINGTON (Reuters) - Orders for long-lasting U.S. goods slipped unexpectedly in October, but new home sales rose, consumer sentiment brightened a bit this month and claims for jobless aid fell, a mixed bag of reports showed on Wednesday. The raft of data, coming just ahead of the traditional kickoff of the U.S. holiday-shopping season on Friday, offered little direction to markets. "It looks to me like the economy is growing at a reasonable pace," said Doug Lee, head of the ... : Data Offer Mixed Reading on U.S. EconomyStocks Flat; Fannie Mae Up, Microsoft Off
By Anupama Chandrasekaran NEW YORK (Reuters) - U.S. stocks were little changed on Wednesday as a European antitrust ruling weighed on Microsoft Corp. (MSFT.O: Quote , Profile , Research ) , offsetting a rise in Fannie Mae (FNM.N: Quote , Profile , Research ) after its embattled chief executive stepped down. A day after the Dow hit a 3 1/2 year intra-day high, trading volume was low as investors focused on the upcoming holidays. Fannie Mae ... : Stocks Flat; Fannie Mae Up, Microsoft Off
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