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To: Knighty Tin who wrote (67820)	9/17/1999 7:02:00 PM
From: Martin A. Helfand	Read Replies (2) of 132070

To MB and all- a question about mortgages: It's time for this kid to buy a house and paint his stocks. I've been looking into the various mortgage options and have just found out about the COFI (Cost of Funds Index) ARMs. Currently a 30 year COFI ARM starts at 5.5%, adjusts quarterly and has a yearly increase cap of 7.5% of the payment (or 7/8% int.) and a lifetime cap of 11.95% int. Alternatively could go with a 30 yr fixed at 7.75%. Would like to stay in the house 10+ yrs. What would you suggest? Would appreciate any info/insight on COFI especially w.r.t. interest rate risk going forward vs. the FRM. TIA, Marty

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