I have an adjustable rate mortgage, does that mean I should some how be feeling miserable right now? Cause I don't feel miserable at all. I actually feel just fine.
I am not stupid, nor am I a fool. An ARM was a good option that has saved me a lot of money. I will be moving to a new home in the next year sometime, so the new financing will be at a fixed rate before my ARM ever has a chance to adjust.
No worries for me.
The only flaw in your plan would be if the housing market dried up and you were unable to sell your house and were forced to keep your ARM or had to reduce the price to get rid of it.
The only flaw in your plan would be if the housing market dried up and you were unable to sell your house and were forced to keep your ARM or had to reduce the price to get rid of it.