Home owners about to get slammed with higher monthly payments
Last year, Jennifer Hernandez was shocked to learn that her monthly mortgage payments on her Houston home would increase by about $2,000. S he had refinanced in 2016 with an adjustable-rate mortgage (ARM), which offers a low introductory rate for a fixed period before adjusting based on market conditions. As mortgage rates have risen, many ARM holders, like Hernandez, are now facing significantly higher payments. … Continue reading Home owners about to get slammed with higher monthly payments
