Payment-option mortgages: Do you know all the facts?
An important debate is raging inside the home-mortgage market, though well beyond the earshot of most consumers.
The issue: Wildly popular "payment-option," interest-only and piggyback loans and the financial risks they pose to homebuyers and lenders alike.
On one hand, federal financial regulators say the risks are too significant to ignore, so lenders need to take special care in evaluating and approving customers who apply for these mortgages.... (Read More)
Source: The Seattle Times: Real Estate