Future Military Homeowners
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The past few years have seen an enormous number of foreclosures. The common wisdom has been that a leading cause of default was payment shock, a swift and sizable increase in adjustable monthly payments.
Now, however, Paul S. Willen, a senior economist with the Federal Reserve Bank of Boston, says payment shock is little more than an urban myth.
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House hunting and homebuying comes with its own unique language, littered with all kinds of acronyms, words and phrases.
Veterans United maintains an in-depth mortgage glossary. This short list is a good introduction:
There’s no doubt that we live in rough economic times. It’s enough to make you want to stick money in a mattress — indeed, according to one survey that’s what 27 percent of us want to do.
The catch is that mattresses are a woeful investment option. Putting cash in a mattress earns no interest and if lost, stolen or destroyed is entirely uninsured.
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