What you should know about balloon loans

A balloon mortgage is one on which the outstanding balance is due at some point before amortization has paid off the balance in full. Aside from the repayment obligation, balloon loans are identical to standard fixed-rate mortgages (FRMs). For example, if a five-year balloon loan for $100,000 is at 5 percent for 30 years, the …

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America’s Richest Zip Codes 2011

 No. 11 Richest Zip Code: 92657, Newport Coast, Calif. No. households: 4,150 Pct. change in no. households since 2000: 74.59 Average household income: $264,979 Average household net worth:$1,450,774Newport Coast, also called the “Pacific Riviera,” includes the coastal area between Corona Del Mar and Laguna Beach and features preserved open space, canyon and ocean landscapes, and …

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What’s in store for the housing market in 2012?

2011 was supposed to ratchet up steady, if not, robust growth in the US economy. However, several economic and geo-political events tripped up the economy during the year that have left would be home buyers dazed and confused about jumping into the housing market. Looking in the rearview mirror: 2011 Here’s what we know–2011 has …

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