Texas Family Avoids Steep Rate Hike April 25, 2007Posted by Jay Medina in Informative Articles and Free Reports.
Dan and Monica Matthews bought their Texas home in 2004. In order to buy their beautiful home, they used an adjustable rate mortgage that would enable them to buy right away and take advantage of a sweet deal on a brand new house being offered by the home builder.
As they approached their third year anniversary of their loan, they were referred to my services from someone they trusted. The Matthews’ were concerned their rate might go up instead of down, given the current market trends.
After reviewing their situation, I found that they were just about to have their rate adjust upward 1.5% on top of their current rate.
If that happened, their rate would be higher than their budget would allow, straining their finances. After asking them a few basic questions and doing some research on my end, I found a loan program that would enable the Dan and Monica to move their loan to a 30-year fixed and keep the same payment as their adjustable rate mortage.
In other words, the Matthews’ now have the same rate and payment of an adjustable rate mortgage three years ago, except now they are on a 30 year fixed.
If you or someone you know is in an adjustable rate mortgage, contact me right away at (866) 509-8796 ext. 2416, so that we can work together on finding a fixed-rate solution that makes sense for you.
And remember, I can help anyone anywhere in the country. Thank you for reading and for doing something positive today.