Is it going to be harder to refinance one year from now?

Question by Claudio F: Is it going to be harder to refinance one year from now?
Our balloon mortgage is due to expire in 2 years and we have to refinance before the expiration.
Is it going to be harder to refinance if they don’t pass the bailout plan?

Best answer:

Answer by Landlord
The bailout is going to raise rates, not lower them.

No one knows the future, but I would expect it to get harder, both in requirements and in higher interest rates.

I would refi now, your loan was never meant to mature, it is for short term investing only.

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One Response to Is it going to be harder to refinance one year from now?

  1. Ed Atun says:

    Most balloon mortgages do not expire. They are extended for the remaining 28 years at .5% above the going rate. So if rates are 5% in 2 years, you will pay 5.5%.
    Keep your mortgage. It is fine..

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