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?
We had the opportunity to lend our expertise to the folks over at GetRichSlowly.org (GRS) as they prepared their latest post: “Does It Still Make Sense to Refinance in Today’s Market?“.
GRS author J.D. refinanced his mortgage last winter, effectively cutting the interest rate on his loan from 6.25% to 4.96%. Over the years, J.D. has done a lot on research of refinancing — both for his own purposes, as well as for a book he has written — but allowed us to share some of the basics with his readers: Read the rest of this entry »
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