To: Hydroshock
ARM’s are bad option whenever the interest rates are at 30 to 40 year lows. Guess which way they will go? If you plan on staying in the home for a length of time. Since most people move after about 3 years, a 3-year or 5-year ARM is a better deal. If you are not gonna take advantage of the last 25 years of the fixed rate, why pay the premium on it?
To: Always Right
“If you want to make God laugh tell him your plans.” I planned to sell my house in 5 years when bought it. I will be in next month and probably it will a year or 2 until we do move. If then. ARM’s are for idiots, and that will soon be the mantra of many by this time next year.
17 posted on
08/20/2007 10:16:18 AM PDT by
Hydroshock
("The Constitution should be taken like mountain whiskey -- undiluted and untaxed." - Sam Ervin)
To: Always Right
You are right, as always! ;-)
37 posted on
08/20/2007 11:20:57 AM PDT by
dashing doofus
(Those who are too smart to engage in politics are punished by being governed by those who are dumber)
To: Always Right
When we bought our first home our plan was to perhaps stay there for 5 years, but after 5 years, we were not ready to make the move into a new home. We finally moved 17 years later.
44 posted on
08/20/2007 6:28:52 PM PDT by
psjones
(u)
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