My client just called to get my opinion about a mortgage. I told him I'm your REALTOR not a mortgage lender. He said thats OK he values my opinion. His question was that the mortgage broker was pushing a mortgage that is a 90 day adjustable based on foreign currencies. I said that I have zero knowledge about this but I can comment on what type of mortgages I get for myself and investment properties. I look for a 5 - 10 year mortgage fixed with no pre-payment penalities. If the rate goes down a point or more then I may refinance. If it goes against me I am fine with the fixed rate. Do you really have time to shop for mortgages every 90 days? I must have made some sense, he agreed with me. I did tell him if you don't understand it don't do it. www.Orlando-Homes-4-Sale.com
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