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Bay Area Homes-San Jose Real Estate
Silicon Valley Real Estate; Santa Clara County Homes and Trends.
Rethinking Adjustable-Rate Mortgages
Posted under: Financing in San Jose
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September 2, 2010 6:13 PM |
174 views |
2 comments
Adjustable-rate mortgages, or ARMs, got a bad name in the recent credit crisis, as underqualified borrowers lured by years of low fixed-interest payments fell behind when interest rates rose.
Complete article at:
http://www.nytimes.com/2010/08/29/realestate/29mort.html?_r=2&ref=realestate
Complete article at:
http://www.nytimes.com/2010/08/29/realestate/29mort.html?_r=2&ref=realestate
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Comments
Adjustable rate mortgages now have a lot more safeguards than they use to. For the right borrower they can save thousands in interest but if used improperly they can be a disaster. That is one of the reasons it is important to have a lender that thinks and is not just an "order taker."
Thanks
Perry