• Dealer's Choice: AM 2010-005 Pierces Option Contract to Find Ownership of Referenced Managed Account by Optionee
  • November 16, 2010 | Author: Mark H. Leeds
  • Law Firm: Greenberg Traurig, LLP - New York Office
  • When I had five years left on my home mortgage, I refinanced into a 30-year variable rate mortgage that was fixed for the first five years (a so-called "5-year ARM"). The rate that is applicable for the initial five years is very low. It's my intention to repay the entire mortgage balance over the initial five years when the low rate is guaranteed. It's my view, however, that the 30-year stated term gives me a "free option."