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Home Equity Line of Credit (HELOC) Adjusting?

Home Equity Line of Credit (HELOC) Adjusting?

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A lot of homeowners in places like Orange County, Los Angeles County, Riverside County, and throughout San Bernardino, Ventura and San Diego County, took out Home Equity Lines of Credit (HELOCs) during the recession. Many of these equity lines were interest only loans for 10 years. However, at Summit Lending, we’ve been getting a lot of calls from homeowners who are now seeing their interest... 

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Adjustable Rate Mortgages in SoCal: What to Do If Your Monthly Payments Are Increasing

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If you’re like countless other Southern California homeowners, who have an Adjustable Rate Mortgage (ARM), which is resetting, you’ve probably noticed your payments increasing. Equally as many other homeowners in an Adjustable Rate Mortgages may be worrying what will happen when the rates adjust. In a lot of cases, a refinance into a new loan may be the best way to combat increasing monthly payments.... 

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