http://www.mortgagepirate.com/mortgages/ In yer quest for mortgages, be sure you consider the ten tentacled beast of ARM! en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Gangway! Gangway! Mortgages off the port bow! Me hearties, prepare yourself fer a nasty one, this time we're meddlin' with a loathsome Galleon the likes of which we've nary witnessed in these waters: adjustable rate mortgages! Aye, I lost me ARM in a fight before, and by Merlin's beard I won't be losin' another. Hansomely now, and last one to the deck will find hisself a one-way ticket to the bone yard! Adjustable Rate Mortgages (ARMs) be shakin' up the cyberseas I be the Mortgage Pirate, says I, and I also be sayin a curse to all ARMs! Nay, not a curse of the evil kind, but a curse all the same. A blessin? Who knows, not I. I be despisin' all home loans - aye, tis true - but of all of 'em me least hated has got to be the mortgages with adjustable rates. I'd bet ye a Black Jack ye cannot find a better rate than with an adjustable rate mortgage. Wanna know why? Cuz the Pirate says so, thats why! To the gibbet with yer scurvy neck, and whilst yer danglin' yer gonna listen to what I haves to say about adjustable rate mortgages, matey: An ARM be a fine mortgage loan, one whose rate is ne'er fair nor true, but changin' with the wild winds of finance. From the north you've got yer Treasury Bills index, from the east yer LIBOR index (Limeys!). You've got yer CD winds and dozens of others, and all of 'em can be affectin' yer rate. Also, yer lender (cursed swine) be puttin' a little extra on these rates. Its how they be makin' money off mortgages, see, the additional rate -or margin - they be addin' to the index. Lenders all be sharks in suits, just remember that before you go swimmin'. Adjustable rate mortgages are easier to qualify for than the fixed rate breed of these dastardly deeds. Offering initially lower rates, these rates are attractive fer home owners lookin' to live in their home for only a few years and sell before the adjustments kick in. But avast and be warned, ye loan huntin' curs! They don't call 'em adjustable fer nothin', and ye best be prepared to pay increased rates when the winds change - and they always do. You never know when a storms a brewin just over the horizon or in another sea altogether, and bein caught unawares in a rate typhoon be one of the nastiest nights of yer days. Sink me! Mortgages of the adjustable kind be commin' in all shapes and sizes. Yer standard ARM will have a fixed rate period, anywhere from one 10 ten years, where the rate won't be changin' no matter the seas, no matter the winds whippen at yer Jolly Roger. the longer the fixed rate term the more ye be payin' in rates, buts thats ter be expected cuz yer gambin' more with a shorter fixed rate period. Most ARM have rate caps on em to stop the buggers from growin' too big, but some of 'em - like the dastardly tempting flexible payment ARM - be lackin' a cap, and if yer not careful their heads will reach the heavens and rain down on you a deluge of debt. I've seen it with me own eyes when I had 'em, and I gives you me oath as a man and a Pirate: if ye ever stop watchin yer mortgages, they'll spring on 'ya like a lash to the spine. An adjustable rate mortgage be havin' all manner of tentacles, dangerous limbs that can pull ye under and starve yer loans fer all their worth. Fight 'em with refinance, slay 'em dead with fixed rates, but by God don't turn yer back on the beast! But they ain't the only fish in the cybersea Avast! I be the Mortgage Pirate, remember? A lyin', theivin', dangerous creature indeed, and ye must not be takin' me word at face value, nor no mans word lest he stop livin'. Dead men tell no tales, and by that it be sayin' all livin' men lie. Don't let a lender convince ye of the best mortgages, cuz there aren't any best mortgages fer everyoone. Set sail and search for yer own loan paradise, and fill yer Coffer with the riches and savings of yer own mortgage you think is best fer yer finances. Sat, 26 Jul 2008 15:00:00 EDT http://www.mortgagepirate.com/mortgages/n4.html Bad credit mortgages be makin' waves the size of Atlantis, tear the roots from the trees and me heart from me very own soul! But use 'em, you can weather their hellish storms! en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 http://www.mortgagepirate.com/mortgages/n34.html Second mortgages be a fine catch fer any home owner - fair and true. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 http://www.mortgagepirate.com/mortgages/n33.html Home mortgages be all the rage fer people who be wantin' a slice of the crust. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0