How to keep the low teaser rate for your mortgage
Posted 1 year 1 day ago by Philip Brewer
Treasury Secretary Henry Paulson gave a speech yesterday, talking about the administration's plan to "address the challenges" of the housing market downturn and related credit squeeze. Part of their plan is to freeze the low teaser rate on the mortgages of people who have been making their mortgage payments okay, but who would face foreclosure if the rate went up. If you have a mortgage with one of those low teaser rates, you might be interested to know how to keep that lower rate--perhaps even get it back, if it has already reset.
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