With Rates This Low, Should I Keep My ARM?by Tim Manni
I once again had the honor to write a guest post on the highly-regarded personal finance blog Get Rich Slowly (GRS).
In February, GRS reader Abby wrote in with some questions about her adjustable-rate mortgage (ARM). She’s had an ARM for seven years now, and the rate is due to reset in 2010. She wants to know what her best course of action is — continue with her current ARM, refi to a new ARM or refi to a fixed-rate loan?
J.D. Roth, the man behind GRS, handed Abby’s questions over to me to talk about the pros and cons of ARMS.
CLICK HERE to head over to GRS and check out the answers and advice we gave to Abby.