Quote:
Originally Posted by RKDinOKC
So, if I only gots 10 years, should I refinance my house for as much $$$ as I can get on one of those ARM loans that is low interest for 10 years then re-adjusts for a bunch more interest?
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10 year to retire, I wouldn't do it I would get as much paid off as possible. 10 years to live, then absolutely. Then again, I didn't even stay at a motel last night and no nothing of the current loan so take all my advice with a block of salt.
When we bought our house in CA we knew we would be moving in 3-6 years so we got an ARM that started at 1.89% and could gain 1% per year after 3 years at 1.89%. A fixed rate was close to 4% at the time so it was a no brainer for a short loan.