Month: September 2016
Negative Amortization
Negative Amortization – By David Reecher Amortization means that monthly payments are large enough to pay the interest and reduce the principal on your mortgage. Negative amortization occurs whe... Read More
Principal, Interest, Taxes, and Insurance (PITI)
Principal, Interest, Taxes, and Insurance (PITI) – By David Reecher The four components of a monthly mortgage payment. Principal refers to the part of the monthly payment that reduces the remain... Read More
Wrap Around Mortgage
“Wrap Around” Mortgage – By David Reecher A mortgage that includes the remaining balance on an existing first mortgage plus an additional amount requested by the mortgagor. Full paym... Read More
Truth-in-Lending
Truth-in-Lending – By David Reecher A federal law that requires lenders to fully disclose, in writing, the terms and conditions of a mortgage, including the annual percentage rate (APR) and othe... Read More
Private Mortgage Insurance (PMI)
Private Mortgage Insurance (PMI) – David Reecher Mortgage insurance provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults. Most lenders generall... Read More
Even More Tips to Help You Sell Your House For The Most Money
Tip #1: Open blinds – This is great for letting the light in. If your windows don’t have blinds or curtains, consider staging the home with some to add softness and dimension to the room – but k... Read More
Take Advantage of the Historically Low Mortgage Rates Before it is Too Late!
Information provided by David A Reecher: For the last 8-10 years, interest rates on home loans have been at historically low rates, don’t assume this is the new norm. From 1950 through 2006, interes... Read More
Joint Tenancy in Maryland and what it means
Information provided by David A. Reecher Joint Tenancy is a co-tenancy that includes rights of survivorship for non-married individuals. However, in Maryland, there is a presumption against Joint Tena... Read More