Borrowers must review the pro’s and con’s before entering into an adjustable rate mortgage.

Most [of these laws] remain a a potential source of virtually unlimited power for a President should he choose to activate them. (9) Recommend to the Office of Emergency Preparedness measures for overcoming potential deficiences in production capacity to produce selected military supplies and equipment needed to fulfill emergency requirements, when necessary measures cannot be effected by the Department of Defense.

It is possible that some future President could exercise this vast authority in an attempt to place the United States under authoritarian rule. (10) Furnish information and recommendations, when requested by the Office of Emergency Preparedness, for purposes of processing applications for defense loans under Title III of the Defense Production Act of 1950, as amended.

There are both conventional and government loan programs available that require as little as a 3% down payment when buying a home.

This can open up home ownership opportunities for individuals and families who lack access to large sources of down payment funds.

While the danger of a dictatorship arising through legal means may seem remote to us today, recent history records Hitler seizing control through the use of the emergency powers provisions contained in the laws of the Weimar Republic." --Joint Statement, Sens. (11) Furnish advice and assistance on the utilization of strategic and critical materials in defense production, including changes that occur from time to time.

Frank Church (D-ID) and Charles Mc Mathias (R-MD) September 30, 1973 Executive Order 11490 -- Assigning emergency preparedness functions to Federal departments and agencies WHEREAS our national security is dependent upon our ability to assure continuity of government, at every level, in any national emergency type situation that might conceivably confront the nation; and WHEREAS effective national preparedness planning to meet such an emergency, including a massive nuclear attack, is essential to our national survival; and WHEREAS effective national preparedness planning requires the identification of functions that would have to be performed during such an emergency, the assignment of responsibility for developing plans for performing these functions, and the assignment of responsibility for developing the capability to implement those plans; and WHEREAS the Congress has directed the development of such national emergency preparedness plans and has provided funds for the accomplishment thereof; and WHEREAS this national emergency preparedness planning activity has been an established program of the United States Government for more than twenty years: NOW, THEREFORE, by virtue of the authority vested in me as President of the United States, and pursuant to Reorganization Plan No. 1799), the National Security Act of 1947, as amended, the Defense Production Act of 1950, as amended, and the Federal Civil Defense Act, as amended, it is hereby ordered as follows- TABLE OF CONTENTS Parts 1 Purpose and Scope. (12) Analyze problems that may arise in maintaining an adequate mobilization production base in military-product industries and take necessary actions to overcome these problems within the limits of the authority and funds available to the Department of Defense.

An adjustable rate mortgage is a home loan where the rate is fixed for a period of time (3,5, or 7 years) and is then adjusted every year based upon current market conditions at the time.

Adjustable rate mortgages may be lower than a fixed rate mortgage at any given time.

The Secretary of the Treasury shall develop policies, plans and procedures for the performance of emergency functions with respect to (1) stabilization aspects of the monetary, credit, and financial system; (2) stabilization of the dollar in relation to foreign currencies; (3) collection of revenue; (4) regulation of financial institutions; (5) supervision of the Federal depository system; (6) direction of transactions in government securities; (7) tax and debt policies; (8) participation in bilateral and multilateral financial arrangements with. The Secretary shall assume the initiative in developing plans for implementation of national policy on sharing war losses and for the coordination of emergency monetary, credit, and Federal benefit payment programs of those departments and agencies which have responsibilities dependent on the policies or capabilities of the Department.