Comments on: The Duel of ARM Reset vs Re-refinancing

By: Frugal

Frugal — Fri, 02 Feb 2007 05:07:48 +0000

ARMs are mostly used as a legal Ponzi scheme.

By: LIBUBBLE

LIBUBBLE — Thu, 01 Feb 2007 00:04:22 +0000

ARMs are a death machine in a rising rate environment.

No one gets out of this alive!

By: Frugal

Frugal — Sun, 14 Jan 2007 09:38:36 +0000

Lending,

You’re right. I think maybe just 30% (or less) people can be somewhat disciplined. The rest will be at the mercy of the mortgage/bond/housing market when they refinance.

By: Lending

Lending — Sat, 13 Jan 2007 19:23:42 +0000

My view is that the above scenarios work finde on paper, but when you place the human element in the equation, the problems start.. I have seen very few borrowers that have the structure and discipline needed to actually take cash out and apply it as you have outlined.. More times than not, the people taking adjustable rate mortages have credit issues or have had financial management problems in their past, hence their reason for a ARM vs. fixed rate mortgage when they refi.

By: frugal

frugal — Sun, 27 Aug 2006 15:36:01 +0000

Thanks, James. I know about that website. It has lots of good data and advices for mortgages.

By: James

James — Sun, 27 Aug 2006 00:09:37 +0000

1st Million,

My wife and I refinancing, partly because of the income squeeze you mentioned in your posting. We are probably not alone in this and wanted to let your readers know that we’ve found some of the mortgage tools in the following website helpful: http://www.mtgprofessor.com/.

Its kinda dry and academic, but has some useful tips.

Best,

James