| Yes, ARMs are hurting many of the fools who used them. Why do an ARM when you can lock a historically low rate (and later re-fi lower if the conditions allow it)? A few reasons. None of them smart.
As for taking a 30 year to a 15: add one extra payment per year if you can squeeze it and you can trim the length of amortization time down, if you want.
but then again, if you are leveraging, and renting the unit out, you have the positive cash flow. |