Real estate blog entries tagged with arm by Tamara Heyward (Self-Help)

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Home : Blogs : Tamara Heyward : Tamara Heyward's Blog : Tag "arm"

arm: Wachovia Reigns in Pick-A-Pay? - 04/12/08 08:24 AM

When I saw the television ad for Wachovia's Pick-a-Payment mortgage, my jaw hit the floor. I saw the commercial at least a month ago, but couldn't formulate a coherent blog entry until now - I was that irritated.In the midst of the fallout over shoddy lending practices, Wachovia chose to push THIS? For those who have never encountered a pick-a-pay loan, let me explain. The real name for this loan is an option ARM. Each month, the borrower gets four payment options: 1) Pay the fully amortizing principal and interest payment (basically as if you were paying on a 30 year … (4 comments)

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Tamara Heyward

Durham, NC

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