Stern Advice: Here comes that $400 billion mortgage reset

(Reuters) – Remember way back in 2006, when everyone was in a frenzy to buy a house, any house, with whatever mortgage they could grab? In many cases, it meant signing up for adjustable-rate mortgages that would reset in half a decade.

Move forward those five years and here we are. For the next 13 months, some $20 billion in adjustable-rate loans are scheduled to reset every month, according to figures from Credit Suisse.

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