I guess I'm just spewing, so bare with me.  Why does a person who wanted to refinance their home back in '05 get sold an ARM starting at 7.5 and capping at 10.5?  This is insanity.  Well, this is what was revealed to me by my client yesterday.  She is paying $2800/mo. and it was owner occupied at the time of the loan.  This is total insanity.  I am now attempting to get her out of this mess so that she can put it under property management until market improves.  Someone made a lot of money from an unsuspecting home owner.