How can I get out of a 5yr adjustable rate before it matures in January if my husband is on unemployment?

Me, my son and husband are all on a mortgage for a apartment building we own. Now my son and husband are laid off and our 5yr adjustable is about to come up. How can I make this better before I get a ridiculous rate in January?? Please helpHow can I get out of a 5yr adjustable rate before it matures in January if my husband is on unemployment?
If you own an apartment building you should be charging a sufficient rent to cover all your costs, including an ARM. Raise the rents you charge.How can I get out of a 5yr adjustable rate before it matures in January if my husband is on unemployment?
Try to call your current bank, tell them your situation and negotiate with them. Without a steady income, it's hard for you to refinance another loan with another bank. Many financial institutes now offer helps.





For example, this is taken from my bank's web site:


';We're here to help you out of payment problems


Divorce, loss of job, illness鈥攁nd rising gas and grocery costs these days. These are all real-life situations that can affect any one of us. And our ability to pay our bills. But once you get behind on your mortgage, it can be hard to catch up鈥攁nd so easy to lose your home. And that's something we don't want to happen to you.





So we've made a variety of relief programs available to you. Some we've developed, others are government-sponsored. Repayment plans, government loans, special forbearance programs鈥攖he list goes on. And every option on our list is designed to ease your payment problems based on your particular situation.


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Ooops. It sure looks like you'll have to refinance that mortgage