Will The Obama Making Home Affordable Program Help You?
February 14, 2010
President Barack Obama’s new mortgage relief plan, unveiled recently, aims to help up to 9 million borrowers qualify for more affordable mortgages and stay in their homes.
Still however, the million dollar question continues to linger in the minds of many homeowners. “Will it help me?”
Obama’s “Making Home Affordable” program is designed to wo Read more
Effect of Annual Percentage Rate on Mortage Loan
January 29, 2010
Annual percentage rate (APR) is the simplified counterpart to the effective interest rate the borrower will pay on a loan. In many countries and jurisdictions, lenders (such as banks) are required to disclose the “cost” of borrowing in some standardized way as a form of consumer protection.
APR is intended to make it easier to compare lenders and loan options. The APR is likely to differ from the “note rate” or “headline rate” adv Read more