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Refinancing Your Adjustable-Rate Mortgage into a Fixed Rate Mortgage

December 24th, 2007 · 1 Comment

If you are among the millions of homeowners with an adjustable-rate mortgage (ARM), you may be facing increasing interest rates as your loan adjusts. Refinancing might be the solution to your problem.

Homeowners refinance for a variety of reasons including taking cash out of their home’s equity to make home improvements, consolidating debt, and of course to obtain a more favorable interest rate. However, many Americans are now refinancing primarily to move from an adjustable rate to a predictable, fixed-rate mortgage to avoid future interest rate adjustments.

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