Posted on: 08th Dec, 2010 05:51 am
i have a fixed 30 yr. at 5.63 % for 235k and a baloon heloc 30yr amoritization (balloons at 15) for 25k... at 9%...just paying interest on this for now. property is appraised at 300k tops. i'm 2 years into this and i have opportunities on the 30 yr to lower a point or point/half. what should i do? 12 months back, they wouldn't refinance my home equity due to not having enough equity home to value.
I would take advantage of rates while they last. Rates are moving in an upward trend. Who know's how long it's going to last.