Mortgage refinance – when should you make the next move?
Kirsten McLauren
Nov. 10, 2007

Many homeowners are worried about their mortgage payments. They wonder if it is right time to refinance. The golden rule of refinance is simple. You must be able to push the last payment (maturity) of the loan by at least two years forward without any increase in payments.

Do not opt for a cash out unless you have to.

A golden opportunity is developing for those whose total mortgage amount is between $417,000 and one million. The Federal Reserve has requested the Congress to allow HUD loans to cover the jumbos in that zone.

If that happens, it will a great time to opt for a refinance of all your loans on the house, the first, second, third mortgages and all lines of credits. Please make sure you opt for adjustable rate linked to some US instruments like one year Tbill. The reason is simple. The adjustable rates will plummet towards zero base and stay there for decades like in Japan. The possibility of a rapid inflation in bleak. Right now the economy is moving though a period of stagflation. That will soon transit into deflation driven recession first, and most likely into a nasty 1929-34-style deflation driven deep depression.

Adjustable HUD is the answer and you can save big on your jumbos.

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