What Is A Convertible ARM?

Houston is the most populous metropolis in Texas and its population is continuously growing. Good job opportunities, housing prices and plenty of entertainment attract people from all ...

When you hear someone referring to a real estate agent type as a “general agent”, it might seem that someone is calling that agent “basic”, common. Right? But the ...

For those seeking a new place to live in the state of Florida, the city of Jacksonville Beach is a strong contender. The city has a rich and storied history, a progressive, forward ...

Foreclosures are often financially devastating for those that fall victim to them. Far from the least of the problems that foreclosure will inevitably lead to is the negative impact on the ...

The town of Bluffton SC is a Lowcountry town located along the coast of South Carolina, in Beaufort County. In the year 2000, the city population was close to 2,500 and two decades later ...

With its location only 30 minutes away from Wilmington, North Carolina, the small community of Hampstead, NC, is one of the best places to live in North Carolina. But before you start ...

The first thing that hits you as soon as you arrive in Savannah Georgia is the architectural beauty of the city. In fact, the city is so gorgeous that even during the civil war the city was ...

This city located on Florida’s southeast coast has a few cards up its sleeve when it comes to activities that people can enjoy. Boca Raton, FL is famous for several things, but its ...

A borrower who must use tax returns to document income rather than information provided by an employer. ...

Standards imposed by lenders as conditions for granting loans, including maximum ratios of housing expense and total expense to income, maximum loan amounts, maximum loan-to-value ...

A government-owned or -affiliated lender that makes home loans directly to consumers. With minor exceptions, government in the U.S. has never loaned directly to consumers, but housing banks ...

The initial interest rate on an ARM, when it is below the fully indexed rate. ...

A second mortgage on a property that is not paid off when the first mortgage is refinanced. The second mortgage lender must allow subordination of the second to the new first mortgage. ...

A home built entirely in a factory, transported to a site, and installed there. Manufactured homes are distinguished from 'modular,' 'panelized'' and 'pre-cut' homes. Manufactured houses ...

A written document evidencing the lien on a property taken by a lender as security for the repayment of a loan. The term 'mortgage' or 'mortgage loan' is used loosely to refer both to the ...

Adjustable rate mortgages on which the interest rate is mechanically determined based on the value of an interest rate index. Indexed ARMs are distinguished from Discretionary ARMs, in that ...