Category archives for: Jay Levitt

Qualified Mortgages: How Will QMs Affect This Year’s Real Estate Market?

qm

By Jay Levitt, Guaranteed Rate In 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law in order to prevent a recurrence of the 2008 housing and financial crisis. Included in the act are the most significant regulations to the U.S. financial system since those that followed the Great Depression. One [...]

My Two Cents on Adjustable Rate Mortgages (ARMS)

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By Jay Levitt, Guaranteed Rate Most people have heard of ARM mortgages but aren’t sure exactly how they work.  An Adjustable Rate Mortgage or ARM is a mortgage type in which the borrower has a fixed rate or “start rate” for an initial term (3, 5, 7 or 10 years typically), and then after the [...]

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