logo

Is Your Adjustable Rate Mortgage Making Your Home Unaffordable?

logo

There’s a thing that’s lurking in the housing industry and is coming to a lot of different folks right now. Back in 2004 or so, there were a lot of 80/20 loans, 80/15 loans, basically when you purchased a home or refinanced back then and got a home equity line of credit as part of your mortgage, a lot of these home equity lines were adjustable rate. Unfortunately a lot of them had a 10 year term on them. Fast forward to 2015, a lot of these are getting ready to reset. We are having a lot of homeowners come to us wondering what to do because their payment is scheduled to go through the roof. Because of this they are no longer going to be able to afford their payments, especially since mortgage rates are also slowly creeping up.

If you’re in a situation like this with an adjustable rate mortgage and it is causing you to be underwater on your house and you are in a position where you need to get out of this please know that we’re here to help you. We have an incredibly high success rate in negotiating settlements on these home equity lines of credit and second mortgages to get you out of this situation. This allows you to move on with as little damage to your credit as possible. Don’t hesitate to pick up the phone and give us a call or get in touch with us via the short sale request form on our website. Even if you’re just looking for information for the time being and aren’t ready to take action, please still reach out to us so that you are educated and prepared for when the time actually comes that you need to complete a short sale on your home.

Leave a Reply

logo
logo
Designed by Targeted Niche Traffic™ (TNT) Lead Generation System by Direct Business Marketing