Saturday, July 15, 2006

ARMs rising??

Are you prepared (personally or on behalf of clients) to handle that interest rate adjustment on your adjustable rate mortgage? There's a nice piece from the Times here.

Some ideas:

1. Refinance before the interest rate adjusts.

2. Adjust your monthly budget. The hit can be significant.

3. Sell! If you're underwater (loan is worth more than the property) get it on the market before others like you do.

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