“For people that are buying for the first time, I don't normally recommend that. Today, people should be looking for a 30-year fixed, and first-time homeowners have enough trouble with the process understanding everything.”
“Say you are five months behind on your mortgage payment, and the lender will not take partial payments. You can say, 'I will make my normal payment plus 1/ 36th of my arrearage a month over three years.' The lender is forced to accept that if the court approves it.”