Homes And Condos

Interactive: How to protect yourself
Mortgage scams come in several varieties. Here are some ways to protect yourself.

The borrower has certain options here; he can refinance for a new loan, sell the home, or start repayment of the new variable or adjustable rates.

This could affect any sales contracts you have negotiated based on the mortgage quote you received.

Spike in foreclosures predicted

Amid continued signs of deterioration in the nations mortgage market, a Congressional panel Wednesday forecast a sharp rise in housing foreclosures, and several Democratic lawmakers called for a federal bailout for borrowers who are at risk of losing their homes. By msnbc.com’s John W. Schoen.

Freddie Mac boss: The worst isnt over yet

The sharp decline of the subprime housing market offering high-cost mortgages hasnt yet hit bottom, the head of home mortgage buyer Freddie Mac said Friday.

On the other hand, a fixed rate mortgage offers the security and consistency of payments and interest rate throughout the term of the loan.

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