Santa Maria couple tells story of trying to reset mortgage rate in turbulent housing market (The San Luis Obispo Tribune)

Story date: 2007-10-09 08:38:01
Added on: 2007-10-09 13:00:19

Shortly after the new year, John and Mona Breidenstein started to get anxious about their $427,000 adjustable-rate mortgage. The interest rate would reset this year, and the Santa Maria couple feared they would not be able to afford the higher payments. When they got the loan in 2005, a broker had assured them they would be able to refinance before their payments jumped. But that was before ...


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