Posted On: December 6, 2007 by Rich

Rate Freeze Leaves Most Homeowners Out In The Cold

the_soup_nazi017.jpgThe latest government bail out proposal reminds me a bit of Seinfeld. It is expected that the President will announce that the government has struck deals with some of the larger lending institutions where they will freeze the teaser rates *on some* of their subprime mortgage loans. Not everyone with an ARM that is about to rest will have their low introductory rate frozen for the next 5 years though.

If you are able to make your current teaser payment, and will also be able to make your adjusted payment - No Freeze For You

If you are unable to make your current teaser payment, and you will not be able to make your adjusted payment - No Freeze For You

Only those who can make their current teaser payment and will be unable to make their new adjusted payment will be eligible to have their payment frozen for the next 5 years.

Step to the left.

Posted by Rich | | Email This Post | Comments (0)

Posted In: Foreclosure , Mortgage

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