Comments for Can I Refinance An ARM to a Fixed Rate Mortgage-Even If I Have An ARM loan And Bad Credit »
Posted By altnrg 1 year, 2 months ago in Business & FinanceUnfortunately there is a significant number of home owners who are not aware that the mortgage they currently hold will reset because they simply do not understand them. For these borrowers the increase will be a real reality check and a likely budge crisis.
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krystaleahs1 year, 2 months ago
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I've always seen the Arm loans as a temporary fix for the home loan. It's like people think about their future and figure they will be able to afford it because they will have a better job or the market will be better and they could refi. What a lot of borrowers forget is the here and now. That if they can't afford at least a 30 year fixed rate, they shouldn't buy past their budget. Makes me wonder that people sign their mortgage documents for the bottom line payment and not how it's calculated and processed.
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