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Reply #34: I'm sure your friend is a good person.. [View All]

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Home » Discuss » Archives » General Discussion (01/01/06 through 01/22/2007)

sendero

(1000+ posts) Send PM | Profile | Ignore

Mon Aug-21-06 06:23 AM
Response to Reply #21

34. I'm sure your friend is a good person..

... but here in Dallas the big mortgage companies were pushing ARMs 2-3 years ago like they were the best thing since sliced bread. At the time, with mortgage rates at historic lows, there were very, very few situations where getting an ARM made financial sense, yet many were being taken out.

The same mortgage company that was pushing ARMs in their radio commercials has recently switched to selling the idea of getting you out of that nasty ARM and into a fixed rate mortgage. Fact is, the folks selling these mortgages KNEW DAMN WELL how bad an idea they were. There's some bad karma coming :(

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