Option ARMs Threaten Housing Rebound as Resets Peak
Posted by US Loan Auditors in
Mortgage Crisis on 06 12th, 2009 |
2 Comments
June 11 (Bloomberg) — Shirley Breitmaier’s mortgage payment started out at $98 when she refinanced her three-bedroom home in Galt, California, in 2007. The 73-year-old widow may see it jump to $3,500 a month in two years.
Breitmaier took out a payment-option adjustable rate mortgage, a loan popular...