A.R.M. Wrestling: Is Your ARM Due to Reset in 2008?

Do you have a 3/1 or 5/1 adjustable rate mortgage (ARM) that is due to reset in 2008? If you do, you’re not alone — experts predict that millions of homeowners will face the dreaded reset date on their ARM this year. This is the date when your ARM resets from its introductory rate to its fully indexed rate, and you’ll be shelling out quite a bit more money every month.

Sitting around and waiting for the adjustment letter from your lender to arrive is not a good strategy. Now is the time to start planning what your options are, and what your next step will be. Click on this link for a great article from BankRate.com on some very simple mortgage strategies for 2008 —-> Best Moves to Make in 2008

___________________________________________________________________
Psst!!.. do you like what you’re reading? Click here to subscribe to the site for free, and you’ll get updates sent automatically to you. And for more information about San Carlos, be sure to follow the White Oaks Blog on Facebook and on Twitter.
________________________________________________________________

1. Feds Drop the Rate, and Mortgages….Rise???
2. Fed’s Slash the Rates…Again.
3. The Hangover is Here…
4. Do you own a second home? You’d better read this….
5. Spike in COFI Index May Spell Trouble for Some San Carlos Homeowners.