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If you are someone who is invested in finding the perfect home for you, you will find that you are going to be looking at a lot of homes. After the eighth house or so, you’ll find that things become a bit of a blur, and it becomes easier to miss things. If you are invested in making sure that the home that you buy is perfect for you, check out the things that most homeowners are likely to miss as they are searching for that dream home!
A mortgage that allows for the possibility of negative amortization usually attracts buyers through the fact that they include the option of making lower payments – sometimes when desired. Whenever a payment is made that is less than the amount of interest due for the month, the interest becomes added to the principal – which will ultimately raise the amount of interest each month. This causes negative amortization.