foreclosure advice: HOW TO DEAL WITH OPTION ARM’S.
- 09/24/07 02:03 PM
A lot of homeowners are dealing with a major mortgage setback this year. Florida and California are leaders in foreclosures so far and it is not over yet. Option ARM loans are primarily to blame. An estimated $1.5 trillion in adjustable-rate mortgages is scheduled for a rate adjustment and as we all know rates are currently going up. So how can an average homeowner who has this kind of loan can deal with what's to come? Refinancing could be an option but depending on your situation it could be a costly move. It usually costs money - about 3 percent of the … (0 comments)
A lot of homeowners are dealing with a major mortgage setback this year. Florida and California are leaders in foreclosures so far and it is not over yet. Option ARM loans are primarily to blame. An estimated $1.5 trillion in adjustable-rate mortgages is scheduled for a rate adjustment and as we all know rates are currently going up.;)
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