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"Dedication to her clientele"
"Honest, energentic and service-oriented are terms that we have used for over 30 years to describe Diana. She sold us all four of our homes, the first in 1969 and our last in 2003. Her determination to get the best deal for her clients was still evident even today.
Dedication to her clientele has not changed at all through the years and that is the reason that we continue to return and even refer our family and friends to her for their real estate needs. She is definitely one of a kind in a very competitive field."
"Earl and Lou Spiegel"
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Financing Your Home >Mortgage Terms
New mortgage loan products offer a more complex selection of terms. Lenders now offer mortgages that are blends of short-term ARMs and 30-year fixed-rate loans with a lower fixed-rate of interest for a period of five, seven or ten years. Be sure that you understand what happens at the end of the initial term before you sign on the dotted line for such a loan.
Many of these loans revert to a 1-year adjustable rate loan at the end of the initial term and can be adjusted once a year based on an index tied to the cost of money. You should know how much over the index your rate will be set and the limit or cap on how much your payments can increase. A "balloon" note requires the entire balance to be paid to the lender after the initial period of the loan ends. Most of these loans require the lender to guarantee to refinance the note at that point if payments have been timely. The lender should spell out how the re-finance rate will be determined and what costs will be involved. These loans can help you buy a more expensive house than you could afford with a 30-year fixed rate mortgage, but be sure that you understand the terms and the potential risks.
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| Q |
What does "contingency" mean in real estate?
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| A |
A contingency is a specified event that must take place before a home purchase contract is binding; for example, a sale can be said to be "contingent upon the sale of the buyer's current residence." |
 See More Real Estate Trivia > |
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- NUMBER1EXPERT™ 
