My parents have two duplexes. They will be selling one to the bank. The other that will be left is the one that the ARM (adjustable rate mortage) is on. Their mortage is very high. What are some possible solutions for them to be able to hold on to it or to bring down the mortage? Is selling the properties to banks really the only solution at this point? Any suggestions greatly appreciated.
What are some solutions to A.R.M loans?loan officer
Try to refi is the obvious abswer, You may have to put some more cash in order to get a new mortgage, but at least its your equity, and at a lower rate. tba
What are some solutions to A.R.M loans? loan
Banks don%26#039;t buy houses so they are probably having it foreclosed. This will trash their credit making a refinance impossible. They need to pay their bills or sell the other if they have equity.|||have they tried simply refinacing into a fixed loan?
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