Even well-to-do people have to struggle, even if it is in their own way.
Other subprime news: AP reports that Celent will advise that up to 200,000 US banking jobs will be lost over the next 12 – 18 months
The Pick-a-PaymentSM Adjustable Rate Mortgage (ARM) offers you payment choices that allow you to take control of your finances. You have up to four different payment options each month1—Minimum Payment2, Interest Only, Full Principal and Interest3, or 15-Year Payment Option.
With the Adjustable Rate Pick-a-Payment, you could:
- Make a lower monthly payment and temporarily increase your cash flow so you can free up cash for4:
- Retirement savings
- Paying down high-interest debt
- Funding college tuition
- Make higher payments and pay off your home loan sooner
- Keep mortgage payments low during the initial years of your loan
- Control your budget based on your individual financial needs
- Get short-term stability with a 1-year, 3-year, or 5-year initial fixed rate that switches to an adjustable rate for the remainder of the loan5