[samm1148]

Amen! There were more warnings about ARMS than Quaker has oats and still these people used them to purchase a primary residence with no thought of refinancing apparently.

[elmer fudd]

Amen! There were more warnings about ARMS than Quaker has oats and still these people used them to purchase a primary residence with no thought of refinancing apparently.

Personally I can't comprehend why anyone bothered with ARMs when fixed rates were down at 4 and 5 percent. OK, maybe if you're an executive and you move every couple of years they make sense, but for the other 95% of us it's the epitome of foolishness to get an ARM when you could have gotten one of the best fixed rates that will ever be available.