Comments by "" (@herstoryswitness) on "The Enemy From Within"
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@edwardmarkgodshall7843Β Mortgage interest rates are generally tied to the bonds for conventional, FHA and VA loans. A low fixed rate that you already have is generally safe but new mortgages, refinanced, adjustable rates or balloons, second mortgages can go out of sight, especially if they have removed normal caps (like 2% per adjustment for example). If you need to tap your equity for repairs, college or medical, that can be a problem. Rising rates will price more people out of the market, cause foreclosures and people will abandon properties if the values drop. Whole subdivisions were abandoned during one collapse, some half-constructed, but if we have no labor to finish them, it won't matter as long as you don't own a house there. Probably more than you wanted to know.π
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