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To: JDN who wrote (20)	11/28/2007 8:14:49 AM
From: RetiredNow	Read Replies (2) \| Respond to of 230

Whew. I've never messed with ARMS because of the bump after the initial low interest period. But if your plan is to sell the house, 3 years seems like a pretty good bet. But it really depends on where you live. If you live in an area that is land constrained like in New York or Silicon Valley, then sure it will sell. If you live in an area with alot of empty land, then it might take a very long time. I'd ask a local realtor what the average months to sell is in your area. If it's higher than 3 years, then go to the 5 yr ARM. Otherwise, stick with what you've got.

To: JDN who wrote (20)	11/28/2007 12:39:42 PM
From: jlallen	Read Replies (1) \| Respond to of 230

I think this current residential real estate situation could take more than three years and as many as five years to work out....so I would definitely go for the five year ARM....seven (7) would be even better just to be safe... J.

To: JDN who wrote (20)	11/29/2007 12:24:26 AM
From: Lynn	Read Replies (1) \| Respond to of 230

"Most people dont buy a new home without first selling their old one (I was the opposite and I am PAYING THE PRICE for my stupidity now)..." I put my RI house on the market in August, but rented an apartment in SE PA, where I plan buying a house. The apartment was rented in May (looong story) and paying rent, much more than I would EVER consider paying for a mortgage, is psychologically killing me. I have also learned how much I hate apartment living, even though I have spent a total of two nights there since I got it. My house in RI is not overpriced, is in a great area for schools, but like other houses in the town (rural area, but all named areas are called 'towns') is just sitting--people look but never make offers. The big problem is that the people who would love to move to where I live cannot because their houses are not selling. The urban pockets have almost non-existent real estate sales so until these more urban houses sell, our prime area rural houses are not going to move. In all seriousness, JDN, I wish I had bought a house when I put my old one of the market. If my old one remains unsold by May, when the apartment lease runs out, I am going to buy one and consider my 'For Sale' sign one a 'winter vacation' property until it sells. Lynn