There are mainly two types of mortgages - fixed rate mortgage and adjustable rate mortgage (ARM). With fixed rate mortgages, interest rates do not change with time. But in the case of adjustable rate mortgages, the interest rates are adjusted at certain intervals. Mortgage loan rates greatly differ with state, lending company, loan amount, value of the security, credit rating of the buyer and the type of the loan. (more…)
Today, across the nation, many people are interested in Texas mortgage loans. This is because the state laws of Texas offer some more benefits to loan buyers than other state laws. There are more than 400 mortgage lending companies in Texas. They offer first mortgages, second mortgages and mortgage refinancing loans at low interest rates. (more…)
A former executive of Market Street Mortgage has won a judgment against the company. The plaintiff argued that the company wanted him to leave on his own in order to avoid its responsibilities for severance pay and other damages under an employment agreement. A Market Street Mortgage spokeswoman told Mortgagedaily.com it does not agree with the court’s decision and will appeal the case. (more…)
Clear Choice Financial Inc. announced it is insolvent. As a result, it has officially closed the offices of a mortgage lending subsidiary. Layoffs have been phased in over the past month, a Clear Choice exectuve told Mortgagedaily.com. (more…)