October 23, 2019

IS IT TIME TO REFINANCE YOUR HOME?

Should you keep your adjustable-rate mortgage or refinance?  Generally, stay with the ARM if you plan to move before it adjusts or can handle a modest increase in payments.  Refinance to a fixed rate loan if you expect to stay for at least three years or if you owe more on your home than it is worth in today’s market AND you qualify for government assistance.  To see if you qualify for the government’s Home Affordable Refinance Program (HARP), go to http://makinghomeaffordable.gov and click on “Refinancing”.

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