Preparing for Mortgage Payment Shock: Navigating Rate Increases

Preparing for Mortgage Payment Shock: Navigating Rate Increases

For homeowners with adjustable-rate mortgages (ARMs) or those anticipating changes in their mortgage interest rates, the prospect of payment shock due to rate increases can be unsettling. However, strategic planning and proactive measures can help individuals prepare for potential hikes in mortgage payments. Adjustable-rate mortgages typically start with a fixed interest rate for a specified…

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