According to an article in today's Boston Globe, Federal Reserve regulators are urging mortgage providers to step in and assists borrowers at risk for default, to help them avoid foreclosure. This comes as no surprise. Over the next two years, approximately 2 million sub-prime adjustable rate mortgages are expected to increase as rates climb. This has the potential to cause more chaos in the financial markets and push More homes into foreclosure. If you have an adjustable rate mortgage, please contact your mortgage provider to see what types of services they are can provide to you. My recommendation would be to go with a fixed rate mortgage. The sooner you call the better. If you have any questions about mortgages you can email me at robert.nichols@bentleyregroup.com. To Read The full story in the Boston Globe Click Here.
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