OLYMPIA – The Washington State Department of Financial Institutions (DFI) is launching a statewide advertising campaign warning homeowners with Adjustable Rate Mortgages to prepare for higher interest rates.
The bilingual mass media campaign includes spots on radio stations, in print media, online and even in movie theatres in English and Spanish. The goal is to encourage homeowners to take action now and prepare for potential rate increases and avoid foreclosure.
Homeowners are urged to understand the details of their mortgage, as many may be unaware they have adjustable rate mortgages or that their rates may increase later this year. DFI hopes that informing Washington consumers and helping connect them with the resources they need will result in lower foreclosure rates throughout the state.