Mortgage News: Adjustable Rate Mortgages Causing Increases in North Texas Foreclosures

Tuesday, September 12, 2006

Adjustable Rate Mortgages Causing Increases in North Texas Foreclosures

This report coming from NBC5 indicates that nearly 4,000 homes in North Texas are facing foreclosure this month alone. The article seems to indicate that adjustable rate mortgages may be a large cause of this run up.

It's important for customers to really understand their current mortgages and take appropriate actions before trouble comes, as once someone is late on their mortgage payments it's nearly impossible to refinance.

Do you know of anyone who is currently facing trouble because of an adjustable rate mortgage?

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