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mortgage: Option Arms; The Good, The Bad, The Ugly - 02/03/08 03:59 PM
Across America there are a record number of loan defaults and foreclosures and some blame, in part, a loan program called the Option Arm. The truth of it is these can be great tools for mortgage professionals to use with the right clients or they can be complete nightmares for others.
Option Arm’s give borrower’s great flexibility in payments, which can be very useful for those borrowers that have fluctuating incomes. Those borrowers that work on commission, receive a large portion of income as bonuses or those that are starting new in their business where a substantial change in income will … (0 comments)

 

Benjamin Borden

Richmond, VA

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Virginia Mortgage Bankers, LLC

Address: 2567 Homeview Drive , Richmond, VA, 23294

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