Ask David

What is a trigger rate?

Dear David, We picked a variable rate mortgage last fall when we were arranging our financing. Now we are hearing about something called a “trigger rate”. How might that affect us? – TRIGGERED DEAR TRIGGERED: Trigger rates affect some mortgage holders, but not others. If you’ve locked in your interest rate with a fixed-rate mortgage,

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Ask David

When mortgage payments are too much

Dear David: Our mortgage payments are killing us. Our home is worth about $500 thousand, we currently have a $100 thousand mortgage and another $100 thousand in consumer debt. With $2,500 in monthly bills on top of our mortgage payments, we are barely keeping our heads above water. What can we do? – SINKING FAST

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