Review Your ARM Before You Refi

There's a great post over at The Mortgage Porter Blog about reviewing the terms of your ARM before jumping into a new loan. The article uses a great example of why reviewing your loan terms is an important aspect of considering whether or not to refinance an ARM that will be adjusting.

Excerpt -

There is a lot of media and mortgage hype about getting out of your dangerous adjustable rate mortgages. Mortgage companies stand to benefit every time you refinance and the media thrives on drama. I'm contacted often by consumers who are horrified of their adjustable rate mortgage--depending on your terms (margin and index) your ARM may be fine!


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