Eddie On Everything

Don't get me started

Entries Tagged ‘mortgage loan’

What’s the difference between a Fixed Rate and an Adjustable Rate Mortgage? (ARM)

Feb.20, 2010 in finance 2 Comments

When financing a home, there are two major types of mortgage financing, a fixed rate mortgage and an adjustable rate mortgage (ARM). A fixed rate mortgage is a loan in which the interest rate does not change during the term. Conversely, with an adjustable rate mortgage, the interest rate is periodically adjusted during [...]

Tags: , , , , , , , , , , ,

What does it mean to be “upside down” on a loan?

Jun.10, 2006 in finance 2 Comments

Q: What does it mean to be “upside down” on a loan? I keep hearing this term on talk radio shows. (Like Dave Ramsey.)
A: Usually used in the context of car loans, the term “upside down” means that the car is worth far less than the amount of money owed on the [...]

Tags: , , , , , , ,
  

Hello!

Welcome to my website! I use this as a place to record handy tips and tricks that I learn. I hope you find them useful.
 
I recently installed a forum on this site. I hope that people will use the forum to ask questions, start discussion topics, etc. There aren't many posts in there yet, but it's new, so help it grow by asking or answering a question.
 
As always, feel free to drop me a line if you have any questions.
 
Thanks,
Eddie