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Unformatted text preview: What kind of mortgages?-Fixed rate, 4.971% for 30 years (yes)-ARM variable rate-Balloon 7 years and balance-Interest only (no) Sub Prime Loan Market-Borrowers with weak credit-Large debt to income ratios House -Over condition-Heating-Foundation, pests What fees are added at clothing?-Application fees-Attorney speaks-Commissions-Appraisal Paints-Insurance -Title search-Taxes in escrow Reverse Mortgage Name 3 other sources to use leveraged savings:-Life insurance-Retirement-Home equity...
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- Fall '10