Comments on: Amortization The Payment till Death http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/ Radical Transparency for The Real Estate and Mortgage Industrys Thu, 28 Aug 2008 19:08:27 +0000 http://wordpress.org/?v=2.3.3 By: Tiffany Taylor-Rodriguez http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1536 Tiffany Taylor-Rodriguez Sun, 24 Feb 2008 05:17:03 +0000 http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1536 Thank you for this great info. I will use it daily when talking with my Borrower about the different loan programs and options. Thank you for this great info. I will use it daily when talking with my Borrower about the different loan programs and options.

]]> By: The XBroker http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1537 The XBroker Tue, 19 Feb 2008 05:35:41 +0000 http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1537 The homestead law is looking like a model to follow, Texas looks real smart in hindsight as it never saw the crazy appreciation curve and now depreciation swing. You can get a very nice house in Texas at a reasonable price compared to other states local markets of comparable size. The homestead law is looking like a model to follow, Texas looks real smart in hindsight as it never saw the crazy appreciation curve and now depreciation swing.
You can get a very nice house in Texas at a reasonable price compared to other states local markets of comparable size.

]]> By: Thomas Johnson http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1531 Thomas Johnson Tue, 19 Feb 2008 04:54:30 +0000 http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1531 In Texas, I mostly see folks refinancing to shorten the term. Usually happens around year 8 if the rates cooperate. They take a loan with 22 years left and refi with a 15 year loan removing 7 years of "rent" to the man. The best ones I have seen are a reduction in years to pay anywhere from 5-10 years while maintaining the same payment, or even a payment reduction depending on closing costs and the lower rate spread. The shorter term packs a bigger principal wallop on the loan balance. I think this is a result of our homestead law which prevents cashout refi's less than 80% LTV, so the borrower uses favorable rates to get the mortgage off their back, not to go shopping. In Texas, I mostly see folks refinancing to shorten the term. Usually happens around year 8 if the rates cooperate.

They take a loan with 22 years left and refi with a 15 year loan removing 7 years of “rent” to the man. The best ones I have seen are a reduction in years to pay anywhere from 5-10 years while maintaining the same payment, or even a payment reduction depending on closing costs and the lower rate spread. The shorter term packs a bigger principal wallop on the loan balance.

I think this is a result of our homestead law which prevents cashout refi’s less than 80% LTV, so the borrower uses favorable rates to get the mortgage off their back, not to go shopping.

]]> By: The XBroker http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1533 The XBroker Wed, 17 Oct 2007 19:21:03 +0000 http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1533 Rebecca...While 40-50 year amortized loans are available in all parts of the country, they are even a staple within Conforming guidelines, they're most often executed in high property value areas e.g. California, coast lines, etc... Rhonda...No need for thanks, your blog is outstanding! Rebecca…While 40-50 year amortized loans are available in all parts of the country, they are even a staple within Conforming guidelines, they’re most often executed in high property value areas e.g. California, coast lines, etc…

Rhonda…No need for thanks, your blog is outstanding!

]]> By: Rhonda Porter http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1534 Rhonda Porter Wed, 17 Oct 2007 05:24:02 +0000 http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1534 I'm very honored to be mentioned on your blog. Thank you very much! I’m very honored to be mentioned on your blog. Thank you very much!

]]> By: The Week In Real Estate Blogging Reviewed | Future of Real Estate and Loans http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1532 The Week In Real Estate Blogging Reviewed | Future of Real Estate and Loans Fri, 12 Oct 2007 15:10:39 +0000 http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1532 [...] The Real Scoop on Amortization [...] […] The Real Scoop on Amortization […]

]]> By: Rebecca Levinson http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1530 Rebecca Levinson Thu, 11 Oct 2007 14:34:45 +0000 http://thexbroker.com/2007/10/10/amortization-the-payment-till-death/#comment-1530 The figures in this post are truly staggering. Goes to show that the quick fix is not the best way. In what areas of the country are 40-50 year loan products most common? Rebecca D. Levinson-Connect2Agent The figures in this post are truly staggering. Goes to show that the quick fix is not the best way.

In what areas of the country are 40-50 year loan products most common?

Rebecca D. Levinson-Connect2Agent

]]>