Yikes! Can you believe that this will potentially happen? I can believe this is going to happen. That would be because housing will reset and mortgage payments will increase. They can increase by as much as 20 percent. Of course, this applies to people that took out ARMs in the beginning. I have to say, I do not think people are ready for this. There are so many other costs that have increased this year that more than likely people are not considering the mortgage increase that will take place at the end of the year. So what options do they have from this scenario? Can they refinance or will the lose their home?
