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  • Other Added - Do You Have A Subprime Mortgage? - Top Five Things You Need To Do Now

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    e an adjustable rate feature, and in most cases, you will experience your first adjustment in just 2
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    It is estimated that some 10 million homeowners closed on what the mortgage industry refers to as a subprime mortgage in the last few years, a mortgage where the homeowner paid a higher interest rate because of lower credit scores, the inability to document income, or both. If you are part of this group, you need to take action right now.

    The reality is that nearly all of these mortgages have an adjustable rate feature, and in most cases, you will experience your first adjustment in just 2

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    subprime mortgage in the last few years, a mortgage where the homeowner paid a higher interest rate because of lower credit scores, the inability to document income, or both. If you are part of this group, you need to take action right now.

    The reality is that nearly all of these mortgages have an adjustable rate feature, and in most cases, you will experience your first adjustment in just 2

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    because of lower credit scores, the inability to document income, or both. If you are part of this group, you need to take action right now.

    The reality is that nearly all of these mortgages have an adjustable rate feature, and in most cases, you will experience your first adjustment in just 2

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    roup, you need to take action right now.

    The reality is that nearly all of these mortgages have an adjustable rate feature, and in most cases, you will experience your first adjustment in just 2

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    e an adjustable rate feature, and in most cases, you will experience your first adjustment in just 2 or 3 years. In other words, if you closed in 2004 or 2005, your interest rate may be adjusting this year, and you may experience a dramatic increase in both your interest rate and your monthly payment.

    So what can you do? Here are five things to do right now; in order of importance:

    1. Know if you have an adjustable rate mortgage and, more importantly, know when it is going to adjust

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