Archive for January 27th, 2009
Jan
27
Suze Orman Offers Refinancing Advice on Adjustable Rate Mortgages
Posted by: | CommentsHow long do you plan to live in your home. However if you plan on keeping your home for 5, 10 or 15 years or more and you have an adjustable rate mortgage loan above 6%…
Wake up and refinance…The Fed has lowered interest rates to record levels. Borrowers can refinance into fixed thirty-year mortgages at 4.5%. Whether you want a FHA loan or a conventional home mortgage, interest rates are the lowest level recorded since the Great Depression. Make sure that you can recover your closing costs prior to moving otherwise, Suzi believes that it may not be worth it. Consider refinancing your second mortgage or home equity loan into a one fixed rate mortgage if you have enough equity.