Thursday, March 06, 2008
Stop Mortgage Payment Defaults
From NYTimes Default rates are going up. Interestingly, the rate is higher for those moving from a fixed rate to a variable rate, one would suppose that people are moving from that early "promotional rate", to the "adjusted rate". This is what we call a context trigger. I know your postal code, I know you are on this threshold, you should get a call, and offers should be made to adjust payment schedules to stop defaulting before it begins.