A Return to Tradition

The modern mortgage market is nearly unrecognizable when compared to what existed twenty years ago. Simply put, there is a loan for just about everyone. Many of these hybrid loans are now coming back to bite people and, no, not just subprime loans. Given the ugly foreclosure rates, many people are now looking for stability in their mortgage loan. There is only one stable loan on the market and that is the good old fixed-rate mortgage. Once you obtain it, everything stays the same. The interest rate. The monthly payment. Everything! If you want to avoid the nasty problems many homeowners are running into now as rates rise and loans adjust, the fixed rate mortgage is the answer.