I have a 5/1 ARM mortgage loan with 3 years until the interest only payment changes and the rate becomes ?

2 Responses to “I have a 5/1 ARM mortgage loan with 3 years until the interest only payment changes and the rate becomes ?”

1. Harry says:

   November 19, 2010 at 12:34 am

   At this point your only option is to wait and see what happens.
2. Pengy says:

   November 19, 2010 at 1:05 am

   With an interest only loan you already owe more than you originally took the loan out for add that to the market you are in bad shape as far as refinancing goes. start paying more on the interest only loan to pay down your principle or you will definitely be SOL in 3 years

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