"If anyone deserves a letter of thanks it's you."
If anyone deserves a letter of thanks from me it’s you. Laura, from the minute Jennifer and I got into your car at the Arboretum in February, a very clean car I might add, you have been a wonderful advocate and counselor. You were patient when patience was what we needed: we weren’t’ just buying a house, we needed a new state, an entire town; an elementary school; a church; a grocery store; a place for Jennifer to play tennis, me to run, John to play lacrosse, Gracie to row, and Tate to play baseball; a place near to our families in Dallas, but not Dallas. At that moment all we knew for sure, and we knew it the way you know you need a dentist--it hurt-- we needed to leave Connecticut. In addition to all that, we needed a house with room for two dogs on a street quiet enough and smooth enough that we could play roller hockey; we wanted a swimming pool; we wanted a house that had four bedrooms--all upstairs--and a kitchen Jennifer could roam around in. We wanted balconies and porches. Want. Want. Want. Want. What am I leaving out? Oh, yeah. We thought we wanted to pay cash and then we thought we didn’t want to pay cash so we needed a mortgage banker. You called Todd. We needed an inspector. You called Vick. (I just sent him a check. I included a little bonus. I told him to take Pat to eat and while they were eating to toast the GFCI model home on Berenson.) We needed a title company. You called the other Mona. Laura, what we needed was you and I am so glad that when we called Linda McMahon’s office in Dallas, asking them to recommend a real estate agent in Austin, they suggested you. For everything, thank you.
Jeff Bowden
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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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What areas are known as the 'silk stocking' districts of this famous city?
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| A |
In Central Park West, Fifth Avenue and Park Avenue in Manhattan, apartments go for $222,610 to $282,709 per room. |
 See More Real Estate Trivia > |
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