Quote:
Originally Posted by irishgrl
you're missing the point in the "job case" what Im saying is, people think their future is going to resemble today only better somehow, and in many cases, that just isnt true!! I know that in the Bay Area, particularly in the Silicon Valley, people are becoming unemployed at an amazing rate! and they USED to hold fantastic jobs and could afford dream homes! but no more  |
Thus, my point that it would not matter what mtg they took - they likely would lose their house under both, though the they may be able to hold on to it in the pmt was several hundred dollars less a month in an ARM. But, if they have no way to pay either mtg - they would lose their house. So, how is the ARM a bad choice here