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my condo is currently at 6.6% on 188k (but I am paying interest only for one more year should I refi

my condo is currently at 6.6% on 188k, but I am paying interest only for one more year should I refinance?
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August 06 2010 - US
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Answers (1)

In my opinion, yes...........if you plan on staying in the property.  If you plan to sell in the next year or two, then I wouldn't make any changes.  If you plan on keeping the home, then refinance it ,and start paying some principal.  Just be aware that your payment may increase a bit, but that will be more than offset by the amount of principal that you will be paying.  I hope this is helpful. [link removed by moderator]
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August 06 2010
 
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