It was just what the mortgage doctor ordered, or so Renee Schwengel thought. What it turned into was a financial nightmare that could cost her family its home.
To free up a little cash every month, Schwengel and her husband were looking to lower the monthly mortgage payment on the four-bedroom, Aurora, Co., home they shared with their two children.
The couple had been in an interest-only loan paying a mortgage of $1,600 each month.
They heard about a loan with low interest rates on the radio and.... Read More...