louisiana mortgages: Adjustable Rate Mortgage Reset Schedule (GRAPH) - 09/12/07 05:36 AM

This graph is a good indicator of what is to come (and when).  It shows that subprime ARM resets will hit their peak in the next few months, while the Option ARMs, Prime ARM, and Alt-A ARM resets will peak in the next 36 months or so.
The sheer numbers are staggering, especially in the subprime market:  $35 billion in subprime ARMs will reset in the coming months, and I believe that these are the problem loans.  I'm sure that a sizeable amount of these loans are high LTV mortgages, and in a declining market, these loans will be nearly impossible to … (19 comments)

louisiana mortgages: Foreclosure Rescue Scams Run Rampant - 09/10/07 10:32 AM
As foreclosure rates rise, more and more "Foreclosure Savers" are popping up.  They are, of course, targeting unsuspecting homeowners who are having trouble paying their mortgage payments and are scared to call their mortgage servicer to discuss a payment plan.
According to an article on Yahoo! Finance, scammers are discouraging the homeowners from calling their servicers, and are stating that the calls could result in extra fees being tacked on by the lender.  Trust me when I tell you that your current mortgage provider wants to avoid the expense of foreclosure, and would much rather work with you to come up with … (14 comments)

louisiana mortgages: To Pay Points Or Not To Pay Points - That Is The Question! - 08/30/07 06:47 AM
How do you "buy" a better rate?  Great question - let me tell you.
A point -- which equals 1% of the total loan amount -- is an up-front fee that lowers your annual interest rate and total interest due over the life of your loan.  So, a one point loan will have a lower interest rate than a no point loan.  Basically, when you pay points you trade off paying money later in favor of paying money now.  You can pay fractions of points also, meaning you can paying 1.5% to get a lower rate than if you paid 1%.
Several major … (6 comments)

 

Gareth Bourriague

Benchmark Mortgage

Baton Rouge, LA

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Benchmark Mortgage of Louisiana

Address: 8704 Jefferson Highway, Suite B, Baton Rouge, LA, 70809

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