debt consolidation loan without home ownership

manufactured debt consolidation loan without home ownership non owner

THE dominant loan product debt consolidation loan without home ownership today's marketplace. They are often packaged as the 5/1 ARM or the 2/28 ARM (most popular products). The loan is a "Hybrid" because a true ARM adjusts for the same periods for the life of the loan, ie. a 6 Month ARM is fixed for the first six months and adjusts every six months afterwards. The 2/28 "Hybrid ARM" is a 6 month ARM that the borrower has purchased a "Rate Lock" or introductory rate for the first 2 years (this is debt consolidation loan without home ownership done in 3,5,7 year fixed periods), and then the loan becomes a 6 month ARM thereafter, rather than a loan that does only adjust every 2 years. debt consolidation loan without home ownership benefits This loan product has actually lowered the costs of borrowing in the early years of loans, but certainly is a source of continuing refinance business to the Mortgage industry. They