Do you have an adjustable rate mortgage? Why have you not switched to fixed rate?

No. Adjustable rate mortgages are for people who can't afford the property they are buying. The reason these people can't switch to a fixed rate now is because they owe more than the house is worth so no lender wants go give them an unsecured loan. Also the monthly payments are probably more than they can afford. That is why they got an adjustable in the first place.