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Let\s go back to a time before banks were bailed out by the federal government. At that time banks were ecstatic to lend money at very low teaser rates to people whose credit was far from perfect. Most of these bank and other lender teaser rates were referred to as Adjustable Rate Mortgages or ARMs. These ARM teaser interest rates were attractively low initially. They increased to greater rates from where they started off generally between 2 and 5 years when they were initially given. The strategy followed by banks and other lending institutions was to hook customers even when they had to make slight losses within the beginning and to recover the money ultimately by hiking rates over the duration from the loan. Home buyers, especially the methods with poor credit, were encouraged to throw caution towards the wind because of low teaser rates and steadily increasing real estate property prices. Visit Click to get this stop foreclosure book to learn why to recognize this thing. Most prospective buyers were offered 1 of 2 options by lenders. What eventually happened result in financial mayhem. For example, somebody in Orange County, California, was able to make plenty of money by refinancing his property thrice inside same year. When the market crashed as well as the teaser rate expired this person went from paying 3, 500 monthly to 6, 000 for a property that had dropped in benefit. Eventually he could not maintain the payments and lost his property. Sad stories such as this are typical. These failures contributed to the failure of numerous banks and mortgage companies and also numerous foreclosures, resulting in a new recession with worldwide consequences. This book has been written to give the reader several proven approaches to stop their foreclosure as swiftly as possible..