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Consumer Alert On Mortgage Payment Increases

Consumer Alert On Mortgage Payment Increases

Tuesday, July 10, 2007

Nebraska Department of Banking and Finance Director John Munn today issued this consumer alert urging homeowners with adjustable rate mortgages especially those with nontraditional mortgages to plan now for any scheduled recasts or resets of interest rates in the year ahead. Non traditional mortgage loans and many subprime loans frequently feature a recast (or reset) with a significant payment increase.

View the press release