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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: MJ who wrote (120728)	12/28/2011 4:26:09 PM
From: d[-_-]b	Read Replies (1) \| Respond to of 224720

Anyone selecting an ARM now would be quite frankly stupid - you choose ARM when you expect rates to fall over time. You select fixed when they are at their lowest historical rates ever - like now and of course to remove any surprises in rates. The real killer is getting in for "no money down" risking none of you own capital, not having even bothered to save for a house and not really being a partner in the house with the bank. Basically a speculator on bank money and government nanny money to bail your stupid ass out of trouble. This is the legacy of several administrations desire to see higher home ownership among those that could not really afford the home and played it like a stock with little downside for themselves. How many times did we hear ads "I didn't know I could afford a home" - but my bank recklessly gave me a pile of cash.