Mortgage Rates may Freeze
December 6, 2007 by Matthew Casper
The Bush administration is ironing out details that will freeze the interest rate on only a very limited number of subprime mortgages. This freeze would keep the interest rates from rising for just a few years, then they will most likely shoot right up to where they are going. The wave of mortgage foreclosures threatens to worsen the severe slump in housing by dumping more foreclosed properties onto a glutted market, further depressing home prices and shaking consumer confidence.
Call our office for a free consultation to see if your mortgage will be affected and how bankruptcy may help you keep your home in this tumultuous real estate market.