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RISMEDIA, June 6, 2007-Home buyers today are faced with many mortgage options and? GuideToLenders.com aims to provide the answers interested buyers need in order to make a wise financial decision. GuideToLenders.com and sister site GuideToRealty.com, an online resource for home buyers who want to connect with real estate agents, provide critical and timely information for homeowners and home buyers.

In GuideToLenders.com’s latest article, “What is an Option ARM and Why Would You Want One?” Gina Pogol explains how option ARMs reset causing payments to increase.

The article also details the potential damage homeowners can cause themselves by choosing the wrong home loans.

Recent troubles in the mortgage market indicate that a number of homeowners purchased loans that did not fit their finances. In a recent study conducted by First American Core Logic, Dr. Christopher Cagan analyzed 8.4 million adjustable rate home loans sold from 2004 to 2006 and estimates that 13% of the loans will end in foreclosures-an amount exceeding $300 billion.

This doesn’t spell doom for everyone, and Dr. Cagan writes, “The vast majority of borrowers will be fine.”

However, the numbers highlight the need home buyers have for resources like GuideToLenders.com to make sure that they find the loan that best fits them.

Though there are mortgage options that can help homeowners save in the short term, a proper understanding of adjustable rate mortgages is necessary. Mis-using an adjustable rate mortgage can have long-term ramifications. Pogol lists in her article several scenarios to contrast how an adjustable rate home loan can work well for some homeowners but prove disastrous for others.

To compound the problem, some analysts report that refinancing to a fixed rate loan from an adjustable is becoming more difficult.

“The tag line you always hear … is you can refinance with no problem,” says A.W. Pickel, a mortgage banker with LeaderOne Financial Corp, “but it is a problem.”

For more information, visit http://www.GuideToLenders.com.

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