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Is it wise to get out of an ARM loan if the balance due is low? (MarketWatch) |
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Question: I currently have a five-year interest-only adjustable-rate mortgage of $50,000 on a condo in Century City, Calif., that I purchased last year at $750,000. My mortgage balance is so low that I'm not sure what to do at the end of five years when it converts into a variable interest mortgage.
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