Florida Mortgage | Subprime Loan | Are you worried?
August 17th, 2007 by tisnerSubprime Loans are not inherently wrought with risk and problems.
Subprime Loans are not inherently wrought with risk and problems. They are still binding contracts that cannot be changed on a whim. Subprime Loans are just loans that were sold to people who might have been a higher risk to the investor that was giving the loan so the terms and rates will reflect that risk.
Six consumer questions about how mortgage-market issues affect them
By Amy Hoak, MarketWatch
The advice I give is to sit down with your closing papers… the ones you received at or after closing from the title company. In there you will find your Mortgage and Note.
If the Date of First Adjustment is within 12 months, your best bet is to Call your Mortgage Broker immediately for an analysis of your options. Then, we can strategize a way to restructure your loan so that you do not have an adjustment that you cannot afford.