Comments on: Option ARMs Are The Optimal Loans http://tampafloridarealestatefinder.com/452/option-arms-are-the-optimal-loan/ Thu, 20 Nov 2008 11:36:23 +0000 http://wordpress.org/?v=2.6.3 By: Tampa Florida Real Estate Blog » Blog Archive » Facing An ARM Reset? Expect A Letter From The FHA http://tampafloridarealestatefinder.com/452/option-arms-are-the-optimal-loan/#comment-14528 Tampa Florida Real Estate Blog » Blog Archive » Facing An ARM Reset? Expect A Letter From The FHA Mon, 11 Feb 2008 19:47:21 +0000 http://tampafloridarealestatefinder.com/452/option-arms-are-the-optimal-loan/#comment-14528 [...] FHA Secure lets borrowers who have a non-FHA insured ARM, whether current or delinquent on payments, refinance into a FHA insured mortgage. Homeowners who are delinquent on payments must be delinquent due to the reset of the ARM, or the recasting of an Option ARM. [...] [...] FHA Secure lets borrowers who have a non-FHA insured ARM, whether current or delinquent on payments, refinance into a FHA insured mortgage. Homeowners who are delinquent on payments must be delinquent due to the reset of the ARM, or the recasting of an Option ARM. [...]

]]> By: Lenny Gurvich http://tampafloridarealestatefinder.com/452/option-arms-are-the-optimal-loan/#comment-13830 Lenny Gurvich Tue, 25 Sep 2007 18:24:49 +0000 http://tampafloridarealestatefinder.com/452/option-arms-are-the-optimal-loan/#comment-13830 Anyone who recently structured a loan scenario based on gaining equity through appreciation may have to wait quite a while for results. Thanks again. Anyone who recently structured a loan scenario based on gaining equity through appreciation may have to wait quite a while for results. Thanks again.

]]> By: Craig Duncan http://tampafloridarealestatefinder.com/452/option-arms-are-the-optimal-loan/#comment-13829 Craig Duncan Tue, 25 Sep 2007 17:58:41 +0000 http://tampafloridarealestatefinder.com/452/option-arms-are-the-optimal-loan/#comment-13829 I think it's ok in a situation of an investor looking to minimize his monthly expenses while perhaps rehabing a home with the hopes of selling it within the year. Also, this type of loan would work best if the existing real estate market were appreciating. Again, it all has to do with understanding the costs of doing the loan which may include prepayment penalties and Monthly adjustments to the payment. I think it’s ok in a situation of an investor looking to minimize his monthly expenses while perhaps rehabing a home with
the hopes of selling it within the year. Also, this type of loan would work best if the existing real estate market were appreciating.
Again, it all has to do with understanding the costs of doing the loan which may include prepayment penalties and Monthly adjustments to the payment.

]]> By: Lenny Gurvich http://tampafloridarealestatefinder.com/452/option-arms-are-the-optimal-loan/#comment-13826 Lenny Gurvich Tue, 25 Sep 2007 11:46:58 +0000 http://tampafloridarealestatefinder.com/452/option-arms-are-the-optimal-loan/#comment-13826 Craig, Thanks for the input. Since you're in the business, have you never had a client that would benefit from this kind of loan? I know that the motivation for most borrowers who sign up for these is the low payments, not the option. But in the right hands, can't this loan be good for certain situations? Craig,

Thanks for the input. Since you’re in the business, have you never had a client that would benefit from this kind of loan? I know that the motivation for most borrowers who sign up for these is the low payments, not the option. But in the right hands, can’t this loan be good for certain situations?

]]> By: Craig Duncan http://tampafloridarealestatefinder.com/452/option-arms-are-the-optimal-loan/#comment-13811 Craig Duncan Mon, 24 Sep 2007 14:33:09 +0000 http://tampafloridarealestatefinder.com/452/option-arms-are-the-optimal-loan/#comment-13811 Lenny, you are absolutely correct on this topic.These Option arms are to complex for most people to understand. I understand the loan completely and I would never have one or recommend it to a client. These loans have only allowed borrowers to purchase homes that they cannot afford. Sometimes I think home sales are getting close to car sales in the since that people do not care what the total financed amount is, as long as the monthly payment fits. Lenny, you are absolutely correct on this topic.These Option arms are to complex for most people to understand. I understand the loan completely and I would never have one or recommend it to a client. These loans have only allowed borrowers to purchase homes that they cannot afford. Sometimes I think home sales are getting close to car sales in the since that people do not care what the total financed amount is, as long as the monthly payment fits.

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