My mortgage is an ARM that is set to adjust in April 08…I fit the guidelines for what the government?
by Mortgage Rates on Monday, October 11th, 2010 | 5 Comments
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Call the customer service department at your current lender for an exact answer to that question.
The news I heard was that the gov’t suggestion was just that right now, not actually implemented. Keep an eye on it to see if they do implement. If so, check with your lender about how to qualify and get it done. Good luck. Go with a fixed next time.
Too bad…you should have to deal with what you signed up for…its a shame the GOVERNMENT has to bail you out.
Yes you do have to opt-in for this ….. assuming your mortgage would qualify.
I would contact your lender because they are probably required to freeze it if you qualify.
This is a voluntary program. Your lender may or may not be participating. If they are participating you need to contact them and sign up. They are the ones that determine if you qualify. The exact qualifications have not been ironed out, so do not assume that you qualify before the deal is done.