Can anyone give me advice on a 2/28 mortgage loan?

Question by Machelle: Can anybody provide me information about a 2/28 mortgage loan?
I have a section 7 bankruptcy discharged 2 years ago. My spouse plus i both have superior jobs, (he a school instructor plus me inside insurance). We are wanting with buy the house as well as the just choice you are getting is this 2/28. naturally the loan officer is advising you this is fine with refinance inside 2 years.. Has anybody had an experience with this. We are kinda freaked out plus don’t like to receive overwhelmed financially again

Best answer:

Answer by fluorescentsurfer
refinancing inside 2 years will REALLY suck…

Interest rates is going up inside the coming years plus we may set oneself up for another round of bankruptcy

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