The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (177407)	1/16/2009 11:08:35 AM
From: bentway	Read Replies (1) of 306849

"What is your ARM indexed to, LIBOR?" Not LIBOR, but one of the published Fed rates. I'd have to look up which one. My APR is currently below 5% on it. "every time the rates fell the bank would call me up and try to convince me to swap out the variable rate for fixed which was always a little bit higher rate" Yeah, they do the same with me. They want me to "lock in" 7% when I'm currently paying about 4%! Another really interesting thing about my ARM is that when I got it, it was half and again as much as I'd paid for the foreclosure I'd bought. It currently maxes out at about half the actual value of the house, based on neighborhood comps.

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