▲ 353 ▼ A Huge Number of Homeowners Have Mortgage Rates Too Good to Give Up (www.nytimes.com) submitted 2 years ago by GiddyGap@lemm.ee to c/news@lemmy.world 145 comments fedilink hide all child comments
[–] ramble81@lemm.ee 3 points 2 years ago (1 child) So what happens if you go to renew and they’re like “screw you, 8%”, and you can’t afford that increase? Do they just foreclose your house? permalink fedilink source parent hideshow 2 child comments replies: [–] cyborganism@lemmy.ca 1 point 2 years ago Well if you can't afford it, you take a temporary mortgage with the objective to sell. Otherwise you add a lump sum to reimburse the capital to reduce your payments. Different banks will offer different rates as well so you can shop around and negotiate. permalink fedilink source parent
[–] cyborganism@lemmy.ca 1 point 2 years ago Well if you can't afford it, you take a temporary mortgage with the objective to sell. Otherwise you add a lump sum to reimburse the capital to reduce your payments. Different banks will offer different rates as well so you can shop around and negotiate. permalink fedilink source parent