mortgage question

[Wojtek Sokolowski]

If that ssuggest that you are a first time homebuyer, visit
http://www.hud.gov/buying/index.cfm for information.  Oftentimes you can
get hud-backed fixed interest loans.  The advantage is low insurance
payments on the loan.  Generally, if your mortgage is more than 80% of
equity, loan insurance premium can be very high.  So it may pay off to
have a hud loan even if the interest rate is not the lowest - this is
why I did not refi my hud guaranteed loan.

Wojtek


> -----Original Message-----
> From: owner-lbo-talk at lists.panix.com 
> [mailto:owner-lbo-talk at lists.panix.com] On Behalf Of joanna bujes
> Sent: Friday, January 31, 2003 6:24 PM
> To: lbo-talk at lists.panix.com
> Subject: mortgage question
> 
> 
> Never had a mortgage, forgive ignorance.
> 
> ....so everyone who has refinanced...what happens when 
> interest rates go 
> up? WIll people have to pay higher mortgages? Or has everyone 
> refinanced 
> for fixed interest mortgages. I'm confused.
> 
> Joanna
>