Friday, September 30, 2011

Adjustable Rate Morgages

Adjustable rate mortgages are becoming popular again with borrowers. The ARM was responsible for the housing boom and crisis. The ARM allows a homeowner to pay a fixed rate over a period of time; however, when this is term is over a borrower's payments will go up if interest rates have. So the current problem with ARMs is that interest rates are already so low that they have nowhere to go but up. Here is the article: Adjustable Rate Mortgages Make a Comeback

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