This article first appeared in the St. Louis Beacon. - If you -- or someone you know -- are worried about making house payments, it's time to take action. Trouble is, mortgage talk is a language many homeowners do not understand. ARMs, resets, balloons ... and the dreaded F word: Foreclosure.
A sub-prime mortgage, for example, is not a reference to the interest rate of the loan but to the credit history of the borrowers.