March 2006 WSJ article regarding ARM reset. Could someone post full article?
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Millions Are Facing Monthly Squeeze On House Payments
By James R. Hagerty
Word Count: 1,556 | Companies Featured in This Article: Wells Fargo
Millions of Americans who stretched themselves financially to buy homes face a painful adjustment — some could even lose their houses — as monthly payments on adjustable-rate mortgages are reset higher.
In the hot housing market of recent years, many households took advantage of “affordability” mortgage loans — heavily promoted by lenders — that hold down payments for an initial period. Now the initial periods are coming to an end on many of these loans, leaving borrowers to face resets of their interest rates that can cause monthly payments to shoot up between 10% and 50%.
