I have an 80/20 ARM that will adjust in July of 08. I am currently looking at refinancing my loan. I bought my home in a small town that is growing fast and building way bigger homes. I have owned my home for a little over 2 years now. I bought the home brand new for 172,900 and the value has increased to 195,000. I currently owe 168,500 on the mortgage still. I only plan on living in this home for maybe 10 more years before selling. I live paycheck to paycheck and some months can be tight, but I have never made a late payment. Would an interest only loan be ideal for me if I plan on selling within 10 years?
2007-10-22
02:41:00
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9 answers
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asked by
Coach S.
2
in
Renting & Real Estate