The interest rate freeze is coming!

It won’t be long before the major subprime lenders agree to an interest rate freeze on their “2-28″ and “3-27″ subprime loans. This means that if you have one of these loans — which start with a low introductory rate that is soon replaced by a much higher adjustable rate — your interest rate will NOT shoot up after two or three years.

This could prevent foreclosure and save your home.

The details are not in on the freeze — how long? who qualifies?– but it now seems all but certain that it will happen.

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