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Jan
27

Suze Orman Offers Refinancing Advice on Adjustable Rate Mortgages

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How 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. 

 

 

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2 Comments

1

Come on Suzi…Tell us something we don’t already know. Please give us advice we havent heard a million times. Refinancing is very difficult these days and we need real direction.

2

This is really great information on home loan relief for Americans…I just wish that more americans also got help on the housing front (loan Modification) My husband and I tried to work with our lender for almost 2 years and was given the run-around…until we decided that it would be best to hire a recommended loan modification attorney, and i’ll just say that we are very happy now. If you are having the same experience with your lender try these guys it worked for us : http://www.legalloansolutions.com or call this number 1-888-630-8881

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