December 2008

Simple Real Estate Definitions : Refinance

December 12, 2008 by MikeRosen · 2 Comments 

A mortgage is a contract between a lender and borrower, defining the terms by which a home loan must be repaid. 
The paperwork, signed by both parties, includes provisions for things like:

The interest rate
The length of the loan
The amount of money to be borrowed

But, like all loans, a mortgage loan can be paid [...]

The Truth About Those “4.5 Percent Mortgage Rates” You Keep Hearing About This Morning

December 4, 2008 by MikeRosen · Leave a Comment 

Business television is abuzz this morning with talk of “four-point-five percent mortgage rates”; the clip above ran on NBC Today.  The news stems from a leaked story that the U.S. Treasury will intervene in the mortgage market, lowering rates a full percentage point below their current levels.
As cited by every journalist in every publication, however, the story [...]