I have some friends who bought a house during the height of the buying frenzy. Interest rates were so low they ended up with more house than they could really afford. Now they are getting near that time when their ARM is going to adjust. They will not be able to afford the new payments (they are barely making it now) and really don't know what they are going to do.
I have suggested they consider
mortgage refinancing. This website has lots of great articles that I think could be of some help to them. They have articles on refinancing an ARM, how to avoid mistakes when you refi, and reverse mortgages (though they aren't old enough for a reverse mortgage.
So if you or someone you know is facing a similar situation, check out this site. It may just have the information you're looking for.
I have suggested they consider mortgage refinancing. This website has lots of great articles that I think could be of some help to them. They have articles on refinancing an ARM, how to avoid mistakes when you refi, and reverse mortgages (though they aren't old enough for a reverse mortgage.
So if you or someone you know is facing a similar situation, check out this site. It may just have the information you're looking for.