Should You Refinance Your Adjustable Rate Mortgage in a Stabilizing Market?

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Millions of mortgage borrowers experienced intolerable hardship because of having adjustable rate mortgages. Now, again the specter of similar tragedy is somewhat looming. Given the Federal Reserve our of the mortgage market and a relatively stabilizing real estate market, the chances are rates eventually increase. The question is whether homeowners should refinance their adjustable rates to relatively higher fixed rates. The answer, unfortunately, is not so simple.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Doron Eghbali, Law Advocate Group, LLP | Attorney Advertising

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