Interest Only Mort.
Date: Mon, 11/27/2006 - 19:48
I am considering the Smart Choice option from Quicken. My current situation is as follows: Mortgage (30 yr, 5.75%) + PMI + property tax = 2600.00/month. I also have 10,000 in credit card debt. The Smart Choice option would allow me to get rid of the PMI, pay off the Credit cards. The questions I have is this option would have me pay interest only for 10 years, and then prinicple payments would begin. I make 100,000/yr and this will increase. SHould I refinance now, or just try to payoff the credit cards ASAP and deal with the PMI. Any advice would be great
Quicken/Rock is a reputable company. I would recommend them for
Quicken/Rock is a reputable company. I would recommend them for refi. I have had very positive experiences with a gentlemen there. I haven't refi'd a dime with them, but he stays in contact with me to stay updated on my situation.
Oh, just read the 'interest only'.... I would not recommend tha
Oh, just read the 'interest only'.... I would not recommend that. Dig deep before you jump in!
Thanks. I came of age when Nirvana was in their glory.
Thanks. I came of age when Nirvana was in their glory.