Attention ARM Borrowers: Contact Your Lender Before Higher Payments Put Your Home at Risk

Attention ARM Borrowers: Contact Your Lender Before Higher Payments Put Your Home at Risk -Homeowners with adjustable-rate mortgages (ARMs) who are not able to make their monthly payment when the interest rate goes up should contact their lenders as soon as possible to discuss their options. That is among the main messages from the FDIC and other banking regulators for the millions of borrowers who have ARMs with very low payments in the early years of the loan that will sharply increase when interest rates reset.