ARM mortgage payments aren't the only payments adjusting at an alarming rate. The latest news about this winter's heating costs is equally grim. The cost of heating oil, for example, is projected to go up a whopping 28%!
The usual excuses are being given for the increase; higher oil prices and lower supply. But knowing the excuses doesn't make making the payments any easier.
Oil users may be hit the hardest, but they aren't the only ones facing increases in heating cost. Natural gas is expected to rise by 5%, and electricity is expected to increase by 7%.
These increased costs will prove challenging for many and devastating for some. So, what is a homeowner to do?
You can insulate, turn down the thermostat, and throw on another blanket. After that, all we can do is hope for a mild winter!
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I provide expert services to sellers, buyers, renters, and landlords in Orange County, as well as parts of Rockland, Sullivan, and Ulster Counties in New York. Professionalism is my passion.
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