Current Mortgage Rates

Sunday, October 12, 2008



There are several possible alternatives to bankruptcy for those in financial trouble. It is important that when debtors consider these options they investigate the organizations they are dealing and make sure they do not do anything that places them in a worse situation. Some bankruptcy alternatives might have an impact on a subsequent bankruptcy filing if the alternative route does not work. A bankruptcy can stay with a person for many years to come so it is best to avoid it whenever possible.

Filing for bankruptcy is not reversible and it will seriously affect a person's future credit rating. A good bankruptcy alternative can help to avoid this option. These alternatives will also give a person a sense of pride in fulfilling his or her financial obligations. A person should fully explore a bankruptcy alternative before taking any steps towards filing for bankruptcy. Bankruptcy alternatives are not easy and they are not fast solutions but they can help you to get your credit rating back.

There are 3 things to remember when using an alternative:
  • Do you speak to a financial advisor?
  • Are you aware of the long-term consequences of filing bankruptcy?
  • Did you seriously consider all alternatives?
Again, thoroughly examine all options available to you and talk to several different people for professional opinions. Do not do anything in haste and later realizing it was not the best choice for you.




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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed6.12%
30-yr. fixed jumbo7.62%
15-yr. fixed5.88%
15-yr. fixed jumbo7.12%
7/1 ARM6.25%
5/1 ARM6.00%
3/1 ARM5.88%
1-yr. ARM5.50%
1-yr. LIBOR ARM6.12%
10/1 ARM8.25%
40-yr. fixed7.12%
*Mortgage Rates Updated: 10/07/2008