Homeowner on Social Security can give adjustable loan the boot
Question: Why did my adjustable rate mortgage go from 6.5% to 8.5% interest last month? It is tied to the 11th District cost of funds index. I will soon be 76 and owe only $74,500 on a house worth about $700,000. I doubt I would qualify to refinance because my income is only Social Security benefits and some small rental income. What should I do?
Design: Luka Cvrk,
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