A review of investors with interest only loans shows they are still paying the bare minimum each month. For the average home owner with an adjustable rate mortgage the options are not as good. Many families are considering how to tighten up the budget, and paying off the credit cards might sound good. More aggressive borrowers are calling their credit card company with an ultimatum – either settle or less than the balance due or nothing at all. Debt settlements, and early credit card payoffs for less than the full amount due, come with high risks as negotiations begin.
