| August 16,
2007 |
?Adjustable-rate mortgages exploded in
popularity from 2003 through 2006. A slow-motion explosion
of another kind will occur through 2012 as millions of
homeowners find their ARM rates will reset for the first
time. Rates will detonate, and monthly payments will blow
ReadWriteEx sky-high.?
William
Holden, Suvivors Guide to ARM Resets
| June 3,
2006 |
| Some homeowners struggle to
keep up with adjustable rates |
Now, the real estate market is cooling,
interest rates are rising and tens of thousands more
Americans are starting to have trouble paying their
mortgages. Nearly 25% of mortgages ? 10 million ?
carry adjustable interest rates. And most of them went
to people with subpar credit ratings who accepted
higher interest rates, according to the Mortgage
Bankers
Association.
By
Noelle Knox, USA Today |
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