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option arm: Surprise: "Toxic" Mortgages Are The Best - 09/26/07 09:58 AM
With all the negative talk and horror stories concerning the Option ARM I thought I would share this article that recently came out in BusinessWeek.
Surprise: 'Toxic' Mortgages Are the Best
… (2 comments)

option arm: Would You Have Answered The Mortgage Type Quiz Correctly? - 06/14/07 06:32 AM

The pie chart above comes from a Bankrate.com survey, sampling 1,000 adults about their current housing situation.
The question asked: What type of mortgage do you currently have? 
While the 34% "Don't Know" figure is troubling, even more frightening is the 6% "ARM" figure. 
The sample size was small, but far more than 6% of homeowners carry adjustable rate mortgages.  Some of the survey responders may have mistaken their "5-year fixed rate mortgage" for a true fixed rate mortgage -- even though they are aware that the rate can change after 60 months.
According to the Federal Reserve, ARM holders tend … (0 comments)

 

John Caylor- Post Falls, ID Mortgages

Post Falls, ID

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