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"Hey folks, Chris from Hauseit here in Miami, talking about notice of mortgage payment changes. Many homeowners may receive letters detailing changes in interest rates. The sample letter includes current interest rate info, this example is about an interest-only adjustable rate mortgage. It explains that no principal pay down is required for the initial interest-only period, typically 10 years. Keep an eye out for these letters from your bank as rates and payments may be adjusting."