Need advice on refinancing my current mortgage

[Administrator]

I am a single female homeowner in my mid 50's with a current mortgage of $90,000. I have a 5/1 ARM which will change in July 2009. I have a fico score of 750. My home is currently appraised at $289,000. I have been reluctant to refinance due to my low monthly payments. I need to keep my payments low and was wondering if I should refinance now with another 5 - 7 year ARM or wait until the end of 2008 with another type of loan. My home is also in need of siding and new shingles. I don't want to add any more money onto my existing mortgage. I am planning on retiring in 10 years. Would appreciate your advice.


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(Source: mortgagefit.com)