Release Date: March 2008

CONSUMER HANDBOOK ON
ADJUSTABLE RATE MORTGAGES

Although adjustable-rate mortgages (ARMs) have recently been affecting many homeowners negatively, they’re still available. If you’re in the market for a house, you should know what they are and how they might affect you. Unlike fixed-rate loans where the interest rate stays the same for the life of the loan, the interest rate on an ARM changes periodically, usually in relation to an index. As a result, your monthly mortgage payments may go up substantially, especially if you received a low introductory rate. Find out more, including how ARMs work, issues borrowers may face, and ways to reduce risks with the Consumer Handbook On Adjustable Rate Mortgages. This informative publication from the Federal Reserve Board costs $1.00. For your copy, send your name, address, and a check or money order for $1.00 to the Federal Citizen Information Center, Dept. 349R, Pueblo, CO 81009. Or call toll-free 1 (888) 8 PUEBLO, that’s 1 (888) 878-3256, and ask for Item 349R. Have your credit card handy. And visit www.pueblo.gsa.gov to read or print this and hundreds of other FCIC publications for free.

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• Please check with Rebecca Ewing if you plan to use this release after June 1, 2008.
• If you would like to receive these releases by e-mail send a request to rebecca.ewing@gsa.gov or call (202) 501-1794.

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