A blanket mortgage is a real estate loan that covers more than a single parcel of land.
This allows investors and developers to manage a single mortgage even though they have multiple properties to finance.
A blanket loan enables them to pay a single scheduled payment with terms that covers all the properties under that blanket.
There is such a wide variety of different loan programs nationwide that it’s sometimes next to impossible to take special notice of any.
Yet once in a while, a new loan package enters the market with a fancy and memorable name. And it has some unique features too.
Even better when it’s features seem to cater to someone like you!
There is a general feeling that fixed rate mortgages are safer compared to adjustable rate mortgages.
Is that a real reflection of what’s at stake here?
The fear that homeowners feel come from the fear of the unknown. And this is mostly from the lack of understanding how ARMs work.
A lot of divorcees assume that because they have ended a marriage, they would not be able to qualify for loans such as mortgages.
So there’s really no point trying.
It’s as if they have confessed to a crime and sentenced themselves to a lifetime of guilt and self-punishment.