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Delaware Archives: • October, 2007 •

FDIC to Mortgage Servicers: Freeze ARM Rates

By Art C Ryter at 10/06/07 22:24
Hope is on the horizon for homeowners who bought their houses with Adjustable Rate Mortgages that have not reset. The Federal Deposit Insurance Company is asking that mortgage servicers make the low ARM rates (those issued in the past two years) fixed rates in order to avoid risk of rising foreclosures. In essence, this is like a mortgage refinance but better in that the leading central bank in the United States is putting the pressure on lenders to work out the details.

Original source: . FDIC to Mortgage Servicers: Freeze ARM Rates

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