Is Your Mortgage Fixed or Adjustable?
4/10/2008 at 1:50:10 PM
When you got your mortgage, did you choose fixed or adjustable rate? With the way things are going in the current real estate market, I'm very glad that ours is fixed rate!
If you have adjustable, what's the worst thing that has happened with it so far?
4/17/2008 at 11:52:20 AM
Our mortgage was interest only for the first few years, which just about made my hair fall out!
The worst thing that happened with the mortgage was my finding out it was not a 30 year fixed! I think the agent talked my husband into it when I wasn't around. Needless to say, I was livid, but it was important that we get moved into something with more space, and that we owned our residence.
However, we were able to refinance into a fixed mortgage two years ago, and we feel extremely fortunate!
6/17/2008 at 4:34:56 PM
My mortgage is fixed at 5.5%. My wife and I bought our house about 4 years ago when interest rates were really great. It was tempting to go with an adjustable rate because the rate was even lower but we decided not to take the change.
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