Good news - my ARM reset lower

[sledge]

Can't believe I've been in this house for 5 years already. I signed up for a 5yr @ 4.58% back then. My loan is priced off 6 month LIBOR (+2%) so I'm at 3.625 until January. Adjusting every 6mos might suck but there's a 2% annual max so I'll have a window to lock if need be.

Now if real estate values would recover somewhat I might actually get back above water on LTV... :ack2:

 

[Sea-Dated]

First time in a long time I have heard of an ARM working in the homeowners favor...

Congrats

 

[JupiterSunsation]

I got a 15 yr fixed at 4.75 in 2003.......loan is paid off in 9 more years, maybe sooner. My kids won't even be through high school yet!

 

[RebarBox]

Can't believe I've been in this house for 5 years already. I signed up for a 5yr @ 4.58% back then. My loan is priced off 6 month LIBOR (+2%) so I'm at 3.625 until January. Adjusting every 6mos might suck but there's a 2% annual max so I'll have a window to lock if need be.

Now if real estate values would recover somewhat I might actually get back above water on LTV... :ack2:

Same thing happened to us - had some 4 3/8 money for 5 years and was just informed about two weeks ago. Our new payment for the next year is about 11% less than our old one.:rofl:

 

[sledge]

I got a 15 yr fixed at 4.75 in 2003.......loan is paid off in 9 more years, maybe sooner. My kids won't even be through high school yet!

And what's the over-under on whether you'll have a Cig by then? :sifone: :biggrinjester:

 

[JupiterSunsation]

And what's the over-under on whether you'll have a Cig by then? :sifone: :biggrinjester:

Longshot.......I like Nortechs much better...:sifone: