PHOENIX -- Desert Schools Federal Credit Union is helping local neighbors avoid the pitfalls of Adjustable Rate Mortgages by hosting a community meeting.
According to the credit union, many Valley residents who purchased their homes with payment option-ARMs are now facing higher monthly payments in the wake of rising rates.
"Desert Schools is a credit union that was founded by teachers," said Cathy Graham, assistant vice president of marketing. "The purpose of our community meeting is to meet our neighbors and provide information and advice in a friendly, welcoming environment."
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