An ARM a Month Keeps the Collectors Away
Originally conceived as a means for more affluent homeowners to keep your cash tied up in investments which would produce greater returns than the interest rates they’d be paying, Adjustable-Rate Mortgages have since come into much wider spread use, often as a means for people to live over their heads in homes they couldn’t otherwise afford. Speculative buyers who intended to resell their homes after they had appreciated are now stuck with depreciated homes instead, and feeling the pinch as well.
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Posted by Carlos Sagastume on July 23, 2008. Filed under HUD Homes.
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