My wife and i own a townhouse. we been there for 5yrs. NEver expected to stay longer than two, but here we are. still own the townhouse and now on an adj rate.
as of now are paymewnt did go down bec of the 6mo LIBOR, but with how bad house values dropped, were going to be here for a whil, so we want to refinance to a 30yr fix.
lower Debt to income ratio’s
never late on a payment
underside on value.- in the past three years weve lost 35K in value.
We bought on an 80/20 and would need to refi and about 110-120%
or refi the 1st and be able to subordinate the 2nd at the 110 -120%
in a nutshell we want to refi so we dont get screwed in the future.