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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Rolla Coasta who wrote (9122)	9/9/2006 9:24:25 PM
From: Maurice Winn	Respond to of 219460

Green$pan's job was to run a currency, not make heavily mortgaged house buyers rich. His point was fair enough - in the long run, adjustable rate mortgages would be cheaper than fixed ones, because the lender doesn't have to carry a risk. Carrying risk costs money, as insurance companies [and their customers] can attest. Which isn't to say that people should borrow 100% of a purchase price at world-record low interest rates, with nowhere to go but up, if they can't pay the increases if and when they come. Green$pan could probably have written a book on it, but of course in the ADHD world of tv, he wouldn't get the time. So, the sound bite was "Get an ARM and don't pay an arm and a leg". Hmm, that's a good one. Must have been used in advertizing. Americans like a good rhyme. "If the glove don't fit, you must acquit". "Hey, that makes sense. It sounds really good and logical. Not like all that DNA twisted around and around stuff. Simple. The way things should be. Like me." Sure, if you keep your 30 year 5% fixed, then you will be ahead of the ARM crowd. Maybe. But what if you have to sell within a few years? As most people do [or choose to do]. Mqurice