Helps Homeowners Beat Rising Interest Rates, Avoid Foreclosure

Share Article

In a recent report published on complete source of mortgage resources--market analysts identified trends in the subprime home financing market that indicate the potential for unprecedented numbers of foreclosures over the next few years. The article advises adjustable rate mortgage-holders to obtain refinancing before rising interest rates cause a surge of foreclosures. offers homeowners the mortgage refinancing resources to help avoid a nationwide wave of foreclosures predicted by market analysts. The popularity of interest-only home loans has left many homeowners vulnerable to rising monthly payments and a lack of home equity, according to experts. As rising interest rates cause monthly payments on adjustable rate mortgages to expand, homeowners can use mortgage calculators and rate comparison tools at to plan their financial futures.

"Many people used adjustable rate home loans expecting the values of those homes to keep rising," says Managing Producer Richard Wong. "With home values softening, offers consumers the tools and education they need to protect their investments and prevent foreclosure."

Analysts cited in the New York Times remind mortgage-holders of the news from manufacturing towns in the Midwest. In many towns where major employers closed unexpectedly, foreclosure rates among adjustable rate mortgage-holders have spiraled out of control. In July, Ohio had 79 mass layoffs followed by 23 large-scale layoff events in August.

Two weeks ago, the Mortgage Bankers Association (MBA) reported that the point spread between rates on an adjustable rate mortgage with a one-year fixed rate (5.9 percent) and a 30-year fixed loan (6.18 percent) was 28 points. This point difference is the narrowest gap since January 2001, making refinancing a better long-term option for some mortgage-holders. Additionally, last week's MBA report shows refinancing activity is the highest it has been since February 2005. is a complete source of mortgage loans tools and resources, including calculators and a mortgage glossary. Visitors can find out the answers to all the most common loan questions, download a loan application, or find lenders in their area.

Corresponding article on


Share article on social media or email:

View article via:

Pdf Print

Contact Author

Jo Violet
Visit website