Bringing Down the House

mthbstr8

Active Member
About 5 years ago I refinanced my house for a low rate, fixed mortage. It saved me a bundle ($200 less per month with a payoff date of 10 years sooner).

My sister-in-law and everybody else went in about the same time and got a new type of mortgage, called an ARM. She's been paying and arm and a leg ever since.
 

av8torntn

Well-Known Member
About 5 years ago I refinanced my house for a low rate, fixed mortage. It saved me a bundle ($200 less per month with a payoff date of 10 years sooner).

My sister-in-law and everybody else went in about the same time and got a new type of mortgage, called an ARM. She's been paying and arm and a leg ever since.

Why on earth would she choose an adjustable mortgage when interest rates were at historical lows?
 
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