Each person is unique, and so is their story. We’re talking about their personalities, their backgrounds, their perspectives, and their talents. But if each person is different then why do so many settle for cookie-cutter solutions when it comes to choosing a mortgage? As we all know, a mortgage is a legal contract between you and the lender, it’s important to understand that a mortgage comes with a variety of clauses designed to benefit the lender. Those same terms and conditions can feel a lot like mortgage handcuffs if you’re not careful.
What is a second chance? An opportunity to try something again, a fresh start, or a do over (or if you play golf consider it a mulligan). If you’re a homeowner, the current market conditions may be giving you that second chance right now. You have likely heard that mortgage interest rates have plummeted to very low levels never seen before. And unless you’re a mortgage professional; like most people you’re left wondering if there’s something you should be doing with your mortgage?
Did you ever hear some mortgage lingo and find yourself confused about the meaning? Mortgage Amortization. Mortgage Term. Say What?