--- In AsburyPark@yahoogroups.com, "fancypaaantz" <[EMAIL PROTECTED]>
wrote:
>
>
> Now with working in NYC and trying to build a family, when the ARM re
> adjusts, I do not know what I will do (or exactly how much it will
> be, I can't get an answer on the approx readjustment). I am not
> looking for McCain to buy my mortgage, but it would be nice to be
> able to refinance at a normal rate!
>
I am conservative (fiscally) but an optimist. I beleive things in the
residential credit markets will settle down over the next 6-10 months.
I know we are still doing a ton of residential appraisals for HSBC. My
5/1 ARM with ING Direct resets next June over reasonable spread over
LIBOR. I have it at 4.5% now. 6 months it would have reset under 4%.
LIBOR is now a mess and I hope it will settle down. However, ING just
offered me the chance to pay $750 and be fixed for another 5 years at
the current rate, which is 5.25%. Not too shabby. Taking my chances to
go lower but I will probably not even need the mortgage for too long
anyway. Try HSBC and ING Direct.
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