barry m asked:
The property was bought for 79 thousand 2 years past september. What is the best course of action to take now? My flat will no doubt be in negative equity now. I have no plans to move home. I also have a loan secured against my home, not sure if this information is required but thought i’d add that in anyway. thanks.
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The property was bought for 79 thousand 2 years past september. What is the best course of action to take now? My flat will no doubt be in negative equity now. I have no plans to move home. I also have a loan secured against my home, not sure if this information is required but thought i’d add that in anyway. thanks.
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Tags: Fixed Mortgage, Fixed Rate Mortgage, Year Fixed Rate Mortgage
2 responses to My 2 year fixed rate mortgage ends in september then moves onto a variable rate?
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Rates are favorable right now,so if no pe-payment penalty, and you can buy into a positive equity position – it is a good time to refinance. If you can’t get a positive equity position, wait until you can to fix in the rate
My 2 year fixed rate mortgage ends in september then moves onto a variable rate?
Consolidating Debts
Well right now rates are lower than they have been in decades so there is nothing to worry about in the short term, but honestly you are stuck. They aren’t going to let you refinance unless you have like 3.5% in equity in the house (FHA) so you are just going to have to take your chances. Those are the risks with ARMs…
My 2 year fixed rate mortgage ends in september then moves onto a variable rate?
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