Thousands of homeowners with adjustable-rate mortgages will be hit with higher monthly payments
CNN – Last year, when Jennifer Hernandez received notice that the mortgage payments on her Houston home would increase by about $2,000 a month, she was stunned. Hernandez refinanced her home loan in 2016 using an adjustable rate mortgage, which has a low introductory rate for a fixed initial period. Unlike more popular fixed-rate mortgages, … Read more