Home mortgage loans are loans in which your home serves as the collateral for the loan. In the event that you fail to repay the loan secured by your home, the loan gets foreclosed and the home is sold to recoup the lender's money.

There are many types of home mortgage loans and one should be aware of the different alternative loan packages available.

Whether you're a first time home buyer or you're contemplating on buying a second home this article is for you.

• Fixed-Rate Mortgage (FRM) - The interest rate is fixed for the lifetime of the loan. This means constant monthly payment for the loan.
• Adjustable-Rate Mortgage (ARM) - The interest rate is tied to the market trends like the U.S. Treasury Bill. Your monthly payment is lower than what you may be paying for a FRM loan for several years before it changes into a fixed-rate payment.
• Home Equity Loans - Mortgage loans secured by the home's equity.
• Interest Only Mortgage
• Balloon Mortgage
• Jumbo Mortgage - Mortgage loans above the conventional loan limit set by Fannie Mae and Freddie Mac.
• Flexible Mortgage
• Repayment Mortgage
• Negative Amortization
• Reverse Mortgage - Available to senior citizens, at least 62 years of age, where the loan may not be repaid during the lifetime of the borrower.

Home Mortgage Loan Interest Tax Deduction Information for 2009, 2010 - The mortgage interest deduction has been one of the best tax breaks available to all homeowners who pay taxes in the United States. The deduction is available for interest expense for a mortgage to buy your home, a second mortgage, a line of credit secured by your home, and home-equity loans

Charlotte Home Mortgage - When purchasing a house the most important first step to make is selecting the mortgage company that is right for you, your financial situation and what your future financial plans may be.

Poor Credit Mortgage Loan - If you have a poor credit score then you know the difficulties it can cause when you are looking for a home loan. Often times many people with a poor credit score will not even bother trying to apply for loans because they are scared of rejection.

• FSA imposes biggest mortgage fine ever - Thu 29 Oct, 2009 16:47 - LONDON (Reuters) - The financial regulator slapped the country's biggest mortgage-related fine on home loans provider GMAC-RFC for overcharging and dealing unfairly with customers in arrears. In addition to the 2.8 million pounds fine, GMAC-RFC will repay 7.7 million pounds in unfair or excessive charges to 46,000 customers, the regulator said on Thursday. [...] - http://www.iii.co.uk/news/?type=reutersnews&articleid=TRE59S3MT&feed=Bus&action=article
• Mortgage lenders braced for a crackdown on home loans - By Paul Gosling - Monday, 26 October 2009 - The mortgage market in Northern Ireland and the rest of the UK is about to get shaken-up. The Financial Services Authority — which regulates mortgages — has announced new controls designed to prevent unsustainable house price bubbles being repeated. Part of the blame for the crash in the housing market has been pinned on [...] - http://www.belfasttelegraph.co.uk/lifestyle/personal-finance/mortgage-lenders-braced-for-a-crackdown-on-home-loans-14542891.html?r=RSS
• Banks say consumers catching up on credit card, mortgage payments - By Pallavi Gogoi, USA TODAY - After years of living beyond their means, U.S. consumers hit a hard wall of reality in the last 2½ years. Hurt by massive job cuts and a free fall in home prices, many stopped paying their credit card bills and defaulted on their mortgages. Now, while consumers may not be rushing out to go shopping yet, there are signs that they are making more [...] - http://www.usatoday.com/money/perfi/credit/2009-10-29-bank-credit-mortgage-defaults_N.htm?csp=34
• Rates on 30-year loans rise to 5.03 percent - By The Associated Press - October 29, 2009, 2:06PM - Rates for 30-year home loans climbed to 5.03 percent this week, the third consecutive weekly increase. The average rate inched up from 5 percent a week earlier, mortgage company Freddie Mac said Thursday. The last time the average was higher was the week of September 24, when rates averaged 5.04 percent. Rates had hovered below [...] - http://www.nj.com/business/index.ssf/2009/10/rates_on_30-year_loans_rise_to.html
• Top 3 Real Estate Mortgage Scams: What You Need to Know - RISMEDIA, November 2, 2009 — Being a homeowner is one of the biggest dreams for the American people. Due to record numbers of homeownership and cheap mortgage rates, individuals who did not own a home previously are now looking for mortgages for financing their ambitions. On certain occasions, the dream of homeownership is associated with a cost that exceeds the mortgage. [...] - http://rismedia.com/2009-11-01/top-3-real-estate-mortgage-scams-what-you-need-to-know/