Asked by Bp, Sterling Heights, MI • Thu Aug 14, 2008
But, my problem is that I have an ARM that will adjust in 2011 and I have been paying interest only for about three and a half years. I know for a fact that the house will not even be worth what I bought it for when my rate adjusts in 2011. Also, the ARM is attached to the 1 year Libor rate 2.25. I am not in a arrears on my payments but should I try to short sell my home and buy a cheaper one now or wait?
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