November 8th, 2009 8:09 AM by Sam Kader MLO130505
Approximately 10% of current outstanding mortgages will reset in the next few years with majority of them in mid 2011. Depending on borrowers income and property valuation, refinancing may or may not be an option. ARM applications peaked at 36% in 2005 to currently at 6% as borrowers shift to a 30 Year Fixed loan.