distressed property solutions: Retrun of the Interest Only Real Estate Mortgage
- 07/21/15 01:33 AM
They were the villains of the housing crash. Federal regulators called them toxic. Now interest-only mortgages are making a comeback, but these are not the loans of yesteryear or yester-housing booms. Return of the Interest Only Real Estate Mortgage “I think it’s opening the door back to responsible lending, giving people choices,” said Mat Ishbia, president and CEO of Michigan-based United Wholesale Mortgage, the second-largest lender through brokers in the nation. The company announced Monday it is now offering interest-only loans through brokers, with significant safeguards. Borrowers must put 20 percent down, ensuring that they have the “skin in the game” … (0 comments)
The Joint Center for Housing Studies at Harvard University recently released their 2015 State of the Nation’s Housing report.Harvard Report Says Real Estate Investing is Good IdeaThe report concentrated on the challenges renters in this country are facing because of the diminishing supply of quality rental units and dramatically escalating rents.However, there was also information buried within the report that revealed that now is definitely the time to buy. With home prices still below peak values and mortgage rates still near historic lows, the monthly mortgage payment on a median priced home is less than almost any time in the last … (0 comments)
They were the villains of the housing crash. Federal regulators called them toxic. Now interest-only mortgages are making a comeback, but these are not the loans of yesteryear or yester-housing booms. Return of the Interest Only Real Estate Mortgage “I think it’s opening the door back to responsible lending, giving people choices,” said Mat Ishbia, president and CEO of Michigan-based United Wholesale Mortgage, the second-largest lender through brokers in the nation. The company announced Monday it is now offering interest-only loans through brokers, with significant safeguards. Borrowers must put 20 percent down, ensuring that they have the “skin in the game” … (0 comments)
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