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To: Broken_Clock who wrote (94520)2/21/2009 5:25:19 PM
From: JBTFD  Read Replies (1) | Respond to of 116555
 
I find it hard to believe how many people got sucked in to ARMS over the last 6-7 years. I remember even Alan Greenspan was touting ARMS as the way to go at one point.

usatoday.com

Unfortunately I think many of those ARMS were by necessity. The people buying the home couldn't afford the payment if it were set at a fixed. Too bad they fell for the lenders pitch that they could always refinance later when their rate went up.

Yeah, right.