Most of the emails I have been receiving lately have been from folks who have an adjustable rate mortgage that is going to adjust on them within the next few months. The comments come from people with both subprime and prime loans; and the concern is the same: "I can afford the payments now; I won't be able to when they change."
I've put together this list of 5 things to do right now if you are in an adjustable rate mortgage so that you can better manage what needs to happen before your rate changes. I recommend starting this process at least 75 days from your adjustment date; however, if you have credit issues I recommend starting right away - regardless of your reset date.
1. Determine your rate adjustment date. Find your loan documents, determine what type of adj
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