This morning I posted this question on our facebook page. There seems to still be a lot of controversy over that question. Indeed, ARMs have been blamed for the current financial melt-down. It seems that most of what we hear from the news is negative on this issue. We would like your opinion.
Does the home buyer planning to live in their new home making payments for 30 years benefit from an ARM? What about the investor who wants to remodel the home, then sell it, all within a very short time? Or the home buyer that knows they will be moving on in 3-5 years?
Here is another reason you might consider an ARM. To pay your new purchase off sooner and for less money! Yes, faster and cheaper! No, it’s not hype, nor am I trying to sell you an ARM (although we do handle them). Rather that get into that much detail here I am going to refer you to Jack Guttentag’s recent explanation on how this works.
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