Friday, June 02, 2006

SacBee.com - "HOLDEN LEWIS: Nontraditional mortgages" (6-2-06)

"The argument is about what federal regulators call "nontraditional" mortgages - home loans in which the borrower is required to pay only interest, and not principal, for the first few years. About one-quarter of new mortgages are nontraditional loans, up from a negligible market share just five years ago. These mortgages' popularity worries regulators, because the loans are considered riskier. Some nontraditional loans, called payment-option adjustable-rate mortgages, don't even require the borrower to pay the interest accrued: The amount owed can increase every month."

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 200 podcasts in our free investor radio archive.

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