Do I refinance?I have a 5/1 interest-only loan (current 5.875%) that will adjust is 3 years. My home is worth about the same price I paid for it (recently appraised). My wife now thinks we're going to sell this home and go elsewhere before the load adjusts. Obviously that is dependent on the market and if we're willing to take a loss (hopefully not an issue in about 2 years).We have locked in a 5.5% 30-yr fixed, fully amortized loan. Should we refinance? Our new monthly payment will increase approximately $300 due to the principal.My wife doesn't want to be forced to pay principal (with a fully amortized loan) because our home isn't appreciating in this market. Is that a fair point?I look forward to some advice.Thank you.December 31 2008 - Richmond00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.