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refi question

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Junior Member
What is the name of your state? California

I have a house with a LTV of 50% that is financed on an ARM at 3.88% that will index to 5.88% in 30 days and likely 7.88% in 13 months. It is a LIBOR indexed loan with a 2.75 spread and a 2% yearly cap. My FICO score is about 770. The balance to refi is $280K. The rent recieved is $2000, HOA $138, taxes $340, insurance $50 -

I can not seem to find any refi option that makes cash flow ($1472) or gets close. I have a lot of mortgage people offering prepayment pentialities, ARMs and other stuff. I am confused about the best course. What is the best way to handle this? I need about 5 years before I sell or exchange.

What ya think? ride or refi? If I refi, what is the loan type that make the most sense? Refi now - before the end of the month or wait for the Fed to make an anouncement at the end of this month? I don't currently see any way to make this property make a lot of sense (from a cash flow point of view)


rates aren't going down anytime soon

Uncle Ben will probably raise rates next week and LIBOR is going to rise as a result and many people think he will raise rates in august as well which means another .25% increase in LIBOR since almost all indexes are based partly on US bond rates. Fixed rates will probably rise as well as a result.

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