Home Loans
1, 2, 3%…..Can You Say Negative Amortization?
(presented by www.refinance-refinance.net - mortgage lenders)
By Paul Jerome
Copyright 2006 Paul Jerome
How about a mortgage with an interest rate as low as one or two percent? Wow! The payment on an adjustable rate mortgage may sound great but as the old adage goes, if it sounds too good to be true, it probably is.
At the time this article was written, the Federal Government borrowed money at 4.64% APY for a one month term, so can an individual homeowner borrower money at a rate lower than our government? The simple answer is no. Can this still be a good loan? Yes, for a select few who understand how it works. The remainder of this article will cover the basic questions you should ask when considering the negatively amortizing loan commonly referred to as an Option ARM.
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