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classicman · 01-04-2010, 08:45 PM

Wait wasn't a big part of the problem the ARM mortgages? Those mortgages whose payments increase after 3-5 years? People got into these with payments they could handle and then when the rates went up they were screwed? It was ok if they kept refinancing or property values increased, but when that stopped ...

01-04-2010, 08:45 PM	#975
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	Wait wasn't a big part of the problem the ARM mortgages? Those mortgages whose payments increase after 3-5 years? People got into these with payments they could handle and then when the rates went up they were screwed? It was ok if they kept refinancing or property values increased, but when that stopped ... __________________ "like strapping a pillow on a bull in a china shop" Bullitt