Subprime loans not "easy money"

Carol Grant was faced with a mortgage decision. She could pay about $5,000 in fees for a loan with an average interest rate. Or she could pay $2,000 for a loan with a lower interest rate.

It wasn't a difficult choice.

Grant, 42, a clinical research manager, got the better deal on the 30-year, $206,000 loan at a 5.85 percent rate earlier this year because she shopped around and didn't trust the first mortgage broker, who told her she couldn't get a better offer.

Read Full Article from Asbury Park Press

- Posted: 2007-03-20 10:31:08

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