Home > Uncategorized > It’s In The News… Do You Know Your Loan?

It’s In The News… Do You Know Your Loan?

March 27, 2007

“Clearly, many homeowners are unfamiliar about their mortgages,” said Bankrate.com senior financial analyst Greg McBride. 57 percent of homeowners surveyed have a fixed-rate loan, 38 percent polled said in the future they would avoid any type of ARM products when purchasing a home. This survey conducted by Bankrate.com (BankRate Inc.) estimated that 34 percent of homeowners are uncertain what kind of mortgage they have. 36 percent of homeowners who carry an adjustable rate mortgage do not know what they will do once their interest resets. The survey also showed that 28 percent worry about how they will manage to make future loan payments. Do you know what type of loan you have?Â

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