Equity Loan Information
should I put my heloc in a fixed rate with current economy?
I have a heloc of 145000 on an adjustable rate with WAMU.I have the option to get it on a fixed rate. A month ago my payment was 282.00 this months is 636.00 is this because of the economy should i lock my rate before it gets worst.Im tight on bills this is the last thing I need my heloc to skyrocket.
Public Comments
- it all depends, because if the bailout plan works, then prices will go back down, and you will be paying 3X more than others, or the prices could keep going up and you will py 2X as much as now.
- yes!!!
- You may not be able to refinance to a fixed rate if your credit score is less than 700, but with JP Morgan taking over WAMU, you should talk to the bank quickly to see if they can work something out.
