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What happens if I let my 5-yr ARM mortgage adjust?
I am not sure if I should refinance or not. If I do not, what happens with my current ARM loan when it resets? Here is my situation: 1st mortgage 5yr arm at 5.125% balance $214K 2nd mortgage 30-yr fixed at 7% balance $21K My 5-yr ARM is going to adjust in June 2010. My approx. LTV (including both loans) is 93%. I got 820 credit score, good salary, no debt or major expenses besides mortgage payments. Anyone know of lenders (forget the online mortgage quote tools). I believe in the word of mouth advertising... Has anyone gotten a good refinance deal recently - with what lender? Thank you. P.S. Correction balance on the 1st mortgage is $184K. Checked my contract. My rate is tied to the 1-yer Libor, the margin is 2.25, loan will adjust once per year. Sounds like I could take some risk and stick with this loan for another year or two? Comments are welcome..

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Mortgage - repayments query?
Hi, my wife & I are looking at getting a mortgage in the coming months. We have a query though for example no interest on a £125000 mortage equals £416.66 per month, typically we've been told to expect a 5%-6% repayment, but online mortgage quotes state monthly repayments of £800 not wishing to sound naive, but where are we going wrong on our figures?? I realise on £125,000 at £416 per month we haven't included an interest, but too me it doesn't tally up. Could someone advise? Kind regards

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Timios releases online GFE quote calculator.(TechNewze)(good faith estimate ): An article from: Mortgage Banking
By: Unavailable
Price: $9.95 (New)

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