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Author: cdominey Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127236  
Subject: Re: Refi, or let it ride? Date: 7/14/2009 11:34 AM
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Thanks for everyone's advice so far.

I'm tempted to let the ARM ride, but the big issue is home value. I need to stick with the home long enough (owning it or renting it) for the market to turn. Who knows how long that will be, but I wouldn't want to commit to the house longer than 10 more years I know. I'm thinking around 5.

Dave, are you suggesting refinancing into a 5 year ARM now or letting it ride a year or so? I'd love to reap the benefits of the 3.875%.

Also, are there any studies/predictions out there about what the 1 year LIBOR might do in coming years?

Finally, is it possible to pay a fee to adjust the terms of my ARM - say drop the annual cap from 2% to 1% - instead of refinancing into a new loan? I don't see anything in my loan docs that says yes or no about this.

Thanks again, this has been helpful!
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