If you have an adjustable rate mortgage that’s due to reset this year, consider refinancing into a fixed rate NOW to avoid future payment shocks. Similarly, if you have borrowed heavily against the equity of your home, refinance your home-equity and mortgage into one fixed-rate loan. Remember, make sure your total debts don’t exceed 36% of your income or you will have a difficult time getting refinanced. Do whatever it takes to get below this total!

This entry was posted on Friday, February 22nd, 2008 at 8:00 am and is filed under General Interests, Investing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.