Checkpoint A New House Risk And Benefits

Checkpoint A New House Risk And Benefits - borrower could...

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Many government bodies affect the housing market and especially the loss of any mortgage because of the shift in the economy. The government bodies that affect the housing market would be the senate to FEMA or even HUM. The housing market could be affected by FEMA if the mortgage was no longer payable by a natural disaster like a hurricane. This will normally make the bank foreclose the home but if a natural disaster occurs, then there is a handicap that benefits the homeowner. The only policies that could affect the mortgage rates or prices of the home would be the amount of money borrowed from the government. The rate at which it is borrowed, the amount borrowed and the fixed rate from which it could be paid. These factors will change the amount of money borrowed and also determined whether if the
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Unformatted text preview: borrower could be allowed access to the money. Specific examples of fixed rates would be short-term loans and the interest determined by the terms of the loan. The loan could be determined from length of the loan, amount, and available payments. Risk of buying a home would be from previous owners and also new fees and taxes that come with the homes. The recommendation would e to have a decent amount of money saved for a couple of months for the mortgage just in case the bank does try to place fees from previous owners onto the house. Benefits would be; the research has proven how to buy a home and how long of a loan should it be....
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This note was uploaded on 03/06/2011 for the course HIS 135 taught by Professor Runyon during the Winter '10 term at University of Phoenix.

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