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07-31-2009, 02:01 PM

Dane

Junior Member

Join Date: Jul 2009

Posts: 1

interest only mortgage fixed term up.. now

what? took out a 5/1 arm interest only loan 4 1/2 years ago. had thought i'd move within this time but now thinking of staying (like the place and obviously not a good time to sell). is it better to stay with this mortgage and start paying principle, refinance or try to sell? if I stay and refinance did I just waste 5 years????

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