What does buydown mean? Redford real estate termsWhat does buydown mean? Redford real estate terms. Buydown is when the lender and/or the home builder subsidized the mortgage by lowering the interest rate during the first few years of the loan. While the payments are initially low, they will increase when the subsidy expires. You have to be careful with buydown mortgages, that the rate later is not much higher then the currently market rate. Saving money now, may cost you a lot of money later. For more information on Redford Real Estate terms, or if you are interested in buying a Redford home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com Michigan Lake Info:
http://www.detroitmichiganrealestatehomes.com/00589F Posted on Jan 25, 2012 @ 10:03 am by russ.ravary - View Profile
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What does mortgage broker mean? Plymouth real estate termsWhat does mortgage broker mean? Plymouth real estate terms. Mortgage broker is an individual in the business of assisting in arranging funding or negotiating contracts for a client but who does not loan the money himself. Mortgage brokers usually charge a fee or receive a commission for their services. There are very few mortgage brokers around because the trend has become part of a bank. Usually a mortgage broker can shop the mortgage around and get you a better rate then some banks. For more information on Plymouth Real Estate terms, or if you are interested in buying a Plymouth home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com Michigan Lake Info:
http://www.detroitmichiganrealestatehomes.com/00589E Posted on Jan 24, 2012 @ 6:58 am by russ.ravary - View Profile
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What does bridge loan mean? Novi real estate termsWhat does bridge loan mean? Novi real estate terms. Bridge Loan is a second trust that is collateralized by the borrower's present home allowing the proceeds to be used to close on a new house before the present home is sold. Also known as a "swing loan". With the mortgage melt down, bridge loans are very hard to get because the banks are not sure whether you will sell your house. For more information on Novi Real Estate terms, or if you are interested in buying a Novi home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com Michigan Lake Info:
http://www.detroitmichiganrealestatehomes.com/00589D Posted on Jan 23, 2012 @ 9:15 am by russ.ravary - View Profile
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What does mortgagor mean? Northville real estate termsWhat does mortgagor mean? Northville real estate terms. Mortgagor is the one who applies for and receives a loan in the form of a mortgage with the intention of repaying the loan in full. Simply put the mortgagor is the borrower. For more information on Northville Real Estate terms, or if you are interested in buying a Northville home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com Michigan Lake Info:
http://www.detroitmichiganrealestatehomes.com/00589C Posted on Jan 22, 2012 @ 8:51 am by russ.ravary - View Profile
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What does blanket mortgage mean? Livonia real estate termsWhat does blanket mortgage mean? Livonia real estate terms. Blanket mortgage is a mortgage covering at least two pieces of real estate as security for the same mortgage. A blanket mortgage is ususally for investors that have multiple properties. For more information on Livonia Real Estate terms, or if you are interested in buying a Livonia home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com Michigan Lake Info:
http://www.detroitmichiganrealestatehomes.com/00589B Posted on Jan 21, 2012 @ 7:47 am by russ.ravary - View Profile
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