You probably have been reading and hearing about the record home sales volumes and prices in most communities. Although it's summer when home sales volume usually slows after the peak sales season of April, May and June, it's not too late to sell your home if you are motivated. If you are a home buyer, bargains appear as the peak sales season cools and buyer competition becomes less intense. Home mortgage interest rates remain near record lows. Procrastinating buyers are still in the market, hoping to find their dream homes. Purchase Bob Bruss reports online. Mortgage lenders are advertising terms too good to be true. A few days ago I heard a radio ad for no down payment home loans even for buyers with FICO scores as low as 600. The major trend in home mortgages is interest-only loans. Some lenders call them "option" mortgages. The result is home buyers can pay rock-bottom fully tax-deductible all-interest monthly payments, or they can select partial or fully amortizing payments. ...
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