October 14th, 2007 2:39 PM by Lehel Szucs
Adjustable rate mortgages that are about to adjust or have already adjusted have or will put many people on the brink of losing their homes. This is already so heavily played out in the media that I think everyone thinks the market is about to crash and there is no hope.
In the last few weeks I spoke to a number of our clients that were facing this situation. These are good people that may have a bad thing happen to them. The good news is that they were able to work things out.
They all contacted their lenders and explained their situations. If the lender made the adjustments the homes would end up n foreclosure and the lender would take a big loss. The lenders do not want this. Our clients were able to work out deals and in most cases were able to keep their current interest rates longer, in one case for another three years.
I am posting this information to give a ray of hope. If you have any questions about how to do what our clients have done call me at (626) 339-0697. If you tried and your lender did not work with you and you are now in trouble call me and I will consult with you to find the best option for you.
If you prefer you can email me at Lehel@TeamSzucs.com.