AVOID LOSING YOUR NEW HOME

It is always best for the potential homebuyer or borrower to know all of the loan parameters as well as the potential downside of each loan program. 

For example, all of the interest only; stated income loans that have the potential negative amortization AFTER the conversion period. These loans have the potential for the client to find himself / herself in a very difficult situation should the real estate market take a turn for the worse as the maximum LTV/CLTV may have increased to a point where the stated income can no longer be available to them...summary, foreclosure...

By David Chow, Sr Executive Vice President, EQUITYHEAD MORTGAGE, (714) 412-4006