Recently, a friend of mine with an adjustable-rate mortgage told me his rate was set to adjust significantly higher. His current loan, a 7/1 ARM, has an interest rate of 3.25%, but that’s only good for the first 84 months. After that, the loan becomes annually adjustable, and the rate is determined by the index… Read More »What to Do If Your Adjustable-Rate Mortgage Is About to Adjust Higher
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