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Open Question: Mortgage adjusting up / Refinance question.?This is a discussion on Open Question: Mortgage adjusting up / Refinance question.? within the Mortgage Refinancing forums, part of the Mortgage and Loans Forum category; Hypothetical situation I might find myself in down the road....Let's say my ARM was about to adjust up considerably beginning ... |
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04-10-2008, 07:26 PM
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Open Question: Mortgage adjusting up / Refinance question.?
Hypothetical situation I might find myself in down the road....Let's say my ARM was about to adjust up considerably beginning this month. And I want to refinance.I have an interest only ARM on a $750K home. So after paying for some years, my remaining loan balance is $750K.Home values have dropped and my home has been appraised at $660K.I have $45K to use as a down payment.What are my refinance options?Please help me understand specifics and help me do the math.
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