At that time, the interest rate is low and you were happy with your lenders.

If this is the right time for them, why should not you? Sure, you've heard the warnings not to jump into a refi just because interest rates are low.

However, you must wait at least two years for a bankruptcy and three years for a foreclosure.

Many people find it more convenient to use these loans to consolidate debt, make home improvements, or take a vacation.

The ARM is perfect when the interests are at their lowest and hibernate for months.
A consolidation loan refinancing will transfer all these high interest debts to a long-term loan from much lower rates.

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