Home, mortgage, 2 year mortgage, home loans, home loan mortgage, mortgage rates
2007-02-26 04:56:20 · 2 answers · asked by Britta G 1 in Business & Finance ➔ Renting & Real Estate
Typically, with most ARM's (adjustable rate mortgages) you will be subjected to a prepay penalty to cover the fixed rate period.....I would find out whether there is a prepay...
2007-02-26 05:27:13 · answer #1 · answered by boston857 5 · 0⤊ 0⤋
Why do you think there is alot of foreclosures. I would try to get out now and get into a fixed 30 year loan. ARM mortgages are very bad unless you plan to sale after a year of living in it. Trust me GET OUT. Plus the rates on a 30 year is low compare to what the rate are going to be in 2 years from now. I think its at 5.75 percent give it two years and we should be at 7 to 8 percent.
2007-02-26 05:31:22 · answer #2 · answered by hector6man 2 · 0⤊ 0⤋