Real Estate Problem

In recent years, a number of real estate lenders offered promotional “teaser” rates to tempt people into buying homes. Today, many people are feeling the pinch as those teaser rates come to an end and each mortgage resets to the actual interest rate. In fact, foreclosures are near record levels because of these mortgage teaser rate resets.

If a homeowner cannot meet their monthly mortgage payment once or twice, often, the lending institution will easily and happily forgive it, and simply expect the homeowner to “double up” on the next payment. This makes sense because things happen to all of us from time to time when there just isn’t quite enough money in the bank to make the mortgage payment.
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