Hi again,
I shopped around the internet for the best home loan, i found the good company payoptionarm.info
we have the option to select the payment method that best suits our financial situation every month. it has providing four options for clients every month.
it gives the flexibility to decide whether we would like to match our loan payments to our variable or seasonal income.

You can find these PaySmart loans from a lender you know, without going to the internet.

I wrote an article on this loan program called, "The Dumbest Home Loan In America"...

You'd better read that before signing on one of these "time-bombs".

Google it...you'll be glad you did!

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Rob K. Blake
The Mortgage Insider

Be very wary of option ARM's. These types of mortgages are being heavily abused in the industry.

While I am not a mortgage guy by any means, I know how they work. Unfortunately, the benefits do not outweigh the risks involved. Also, some agents fail to tell you some of the details that may change your mind.

You might want to google that article and read it, because this type of mortgage can become, as stated, a ticking "time bomb".

Personally, I'd stick with a fixed rate mortgage. If the payment of a fixed rate mortgage is too high, then you are likely buying more home than you can afford.

Quick story. A friend of mine recently bought a new home, moving from a fixed-rate mortgage on a $150k home to an interest-only mortgage on a $300k home. His payment remains very similar but he's now got a bigger home. Good deal, right? Wrong! In the long run, from a macroeconomic viewpoint, we calculated that he is going to lose hundreds of thousands of dollars that would be available in retirement.

Sometimes what is best in the short-term is not best in the long-term.

With many payment option arms you can select to pay only the interest amount every month, but it will not result in paying down the principal part.

Other payment option is called the minimum payment option, where you pay a minimum required amount which does not cover all of interest and principal balance. The balance of principal & interest that is not paid by you is added to the remaining balance of your mortgage.

Thus instead of getting reduced your mortgage balance starts to increase. This is called as negative amortization.

You can be in trouble if you look to refinance the loan after few years and would find the mortgage balance is more than the home\'s value and no equity in the house.

So beaware before deciding about it.

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Future Steel Buildings - A complete line of pre-engineered, pre-frabricated metal and steel buildings, for any use.

These programs are very useful to the right person.

an investor who owns many properties; some for short periods of time will most likely benefit from these types of loans.

Having a minimum start rate on a Non Owner Occ home for a couple months while you fix it up in order to flip it is an excellent idea. Your whole purpose of owning that home at that point is to increase the value fast. So not paying interest for a few months is not going to hurt anything, and your profit margin will be greater since you were paying less each month to keep the mortgage.

For a family man in a owner occ home with a wife and kids....definately NOT a good idea. Unless they are extremely aware of the pros and cons of this program, I would never suggest it for someone who is not in the real estate business to make money.

You make a good point. The type of loan one gets should be tailored to meet that person's needs. It is definitely not recommended for everybody.

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Bad credit is Bad, but credit cards are Good.

The issue is not the loan program:

Loan officers sell the loan with out properly educating the client or staying abreast of market trends to help the client make the right payment choice at the right time.

Loan officers don't stick around long enough to help the client refinance before the loan recasts.

Borrowers consume the negative amortization instead of saving it.

Borrowers don't invest enough time in thier own education before choosing a loan.

The loans have worked very well for astute borrowers who have mortgage advisers that help them make sound decisions at the right times.

Read Missed Fortune 1o1 by Douglas Andrew, Ordinary People Extraordinary Wealth by Ric Edelman, and Stop Sitting on Your Assets by Susan Snow.

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Visit Personal Finance Blog @ www.ReliantAFS.com/MoneyBlog

i hate option arm loans, why not get set up on a 30 year fixed that will make you happy

Life is not black and white, it is filled with shades of gray. Saying that everyone should have a 30 year fixed is just as naive as saying an ARM will save you money. Both have an appropriate use and time. It is necessary to access your situation, your intended length of possession, your financial goals and investment strategies. There are as many variations to these answers as there are buyers.