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titaniumsalute

(4,742 posts)

4. I agree banks are thieves and can have strong sales tactics but...

Reply to jtuck004 (Reply #3)

Thu Sep 11, 2014, 11:28 AM

Sep 2014

...come on. Anyone who has access to a computer can easily Google Home Loan Arms Advantages and Disadvantages. I just did and this came up. A very easy to understand summary of ARM loans.

If someone decides during historically low interest rates to save even a more few dollars with an ARM loan then I fully blame them for the decision. Just as if you buy some hocked bullshit on a late night info-mercial.

NO ONE should be engaging in ARM loans right now. You do that when the interest rate trends are decreasing.

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US Foreclosure Activity Up 7 Percent in August, RealtyTrac [View all] Purveyor Sep 2014 OP

Wait until they raise interest rates. Millions of people have refinanced after the thieving bankers jtuck004 Sep 2014 #1

With fixed interest rates so low, why in the hell would anyone do a ARM? Purveyor Sep 2014 #2

I'm not sure if you remember a financial crisis prompted by thieving bankers and their jtuck004 Sep 2014 #3

I agree banks are thieves and can have strong sales tactics but... titaniumsalute Sep 2014 #4

"...Anyone who has access to a computer". AND has enough financial savvy to jtuck004 Sep 2014 #6

Because the rates on ARMs are usually lower than fixed rate loans, even in this environment... paleotn Sep 2014 #5

I just chose a 5yr ARM and it will save me about $300/month due to lower interest rate. DCBob Sep 2014 #7