Refinance ARM HELOC Into Fixed Rate Loan
An older Think Glink reader asks about combining an adjustable rate mortgage (ARM) and a home equity line of credit (HELOC) into a 30 year fixed rate mortgage. She’s also considering waiting until mortgage interest rates stabilize. Should she refinance the ARM and HELOC into a fixed rate mortgage loan? Ilyce says she should look at the terms of her loan and compare that with market conditions such as the value of her home.
