Help Is on the Way - Mortgage Rates Frozen!
December 6th, 2007 Categories: Financing, Keller Williams
President Bush announced today that in an attempt to help almost 1.2 M people who have Adjustable Rate Mortgages (ARMs), there will be a 5-year freeze on interest rates. However, Bush’s relief plan is limited - it is not applicable to delinquent mortgage payments that are more than 30 days past due, or anyone who has been more than 60 days late on a payment within the past year (past 12 months).
While this may help some people, there will still be many people who will need future help making their mortgage payments. There is some talk that lenders will now be better able to work with borrowers to resolve these issues.
For more information on how this can benefit you, feel free to call or email me!
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Another genius idea from President Bush. Should be interesting to see how it plays out.
Comment by Atlanta Luxury Homes — December 7, 2007 #
It will be interesting to se how/if this plan works out.
Comment by tyler moxley — December 9, 2007 #