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Reply to "refinancing frustration"
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[quote=Anonymous]i'm bummed. had an ARM that ran out, ended up with a great interest rate, 2.3% Enjoyed it for a few months, and then i realized only today that interest rates are climbing! we only have about 10% equity, and our building has too many renters to be FHA approved. the best i can seem to get is 4%, or 4.4% APR through my credit union. sucks, our value dropped so much after the bubble burst, and we're just so happy that we're not underwater anymore. but i was hoping to go another year or so with such a good interest rate. [/quote]
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