Expert, localized Los Angeles answers provided by Heather Roy

Ask Heather about: Mortgages, Finance, Taxes or Home Selling?
  

When to Borrow

  Edith,
My wife and I are planning to refinance our mortgage to a 30 yr fixed. The reason is to frree up income to cover the cost of medical insurance up reirement effective 01/01/2009. My credit scores are over 810 (FICO) or 960's if you use the new system.

While I realize that you donot have a crystal ball, I am interested in your opinion as to the direction that interests rates might go in the next couple of months considering the plight of the banking system and the recent Federal Relief Plan.
 
  If I knew which way interest rates were going we could all be rich!  Sorry, but this is one I'll have to pass on. Good luck to you!
    Edith
Originally published on December 16, 2007
 
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