The Infidel
EVIL CONSERVATIVE
You might want to read this entire thread. You have missed a significant portion of it.
Sunshine, I've read the entire thread. Do you have a point? Do you deny that some people who are current on their mortgage are about to face A significant problem when their ARM adjusts?
Have you ever heard of Truth in Lending?
Truth in Lending Act - Wikipedia, the free encyclopedia
They knew what they were signing. I have known people who had SEVERE financial problems when the ARM they AGREED TO adjusted. Tuff shit. They knew what they were buying when they bought it.
You don't have to take an ARM. If you bank shop you can find a fixed rate mortgate. We did in the 70s when everbody else was bending over signing up for ARMs so they could get fucked coming and going.
"Stupid is as stupid does!" Forrest Gump
I had a choice to do an ARM when I refinanced my home about 7 yrs ago..... I told them HELL NO!
I knew what would eventually happen if I did.
Oh, and I also did EVERYTHING possible to NEVER flunk out on a loan. I have excellent credit now, and guess what..... I dont plan on buying something I know I cant afford
Novel concept is'nt it