Boca Raton Real Estate CommunitiesLooking for luxury home communities in Boca Raton? Use our site to view all the best Boca Raton communities. |
| 9858 Clint Moore Road, Boca Raton, FL 33496 | Caesar: (561) 715-8630 or Eileen: (561) 271-1311 |
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| Luxury Communities Waterfront Communities Country Club Communities Neighborhood Communities |
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Tailoring a Mortgage to Meet a Borrower's Needs
A couple of weeks ago I talked to a mortgage broker I know about the reported drop in adjustable rate mortgages during 2006. He told me that the difference between fixed and ARM rates was so small, and concerns about rapid, unaffordable adjustments in rates reduced the requests for those mortgages to zero. The day after I reported our conversation, he called to tell me that he had been inundated by requests for the no-point, fixed-rate mortgages under 6 percent that he and I had talked about. "I'm trying to as much as I can to help these people," he told me. "They all sound pretty desperate." For several years, people with marginal financial means who wanted to buy a house but couldn't get keep up with rising prices turned to alternative mortgages, including the so-called "exotic" adjustable instruments. Increases in short-term rates over 2006 resulted in rate adjustments that most of these borrowers had hoped to postpone for a few years until their fortunes improved. Looking for a home in Gleneagles Country Club? Realtor® Caesar Parisi is ready to help you buy your dream property. click here for article |
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