2 Jul 2024 12:33 pm
As an ex loan officer, ARMS are risky as hell! They are fixed the first 3-5 years, but then go variable to unknown heights. They only work if you know you wont need a mortgage after the fixed part is over.Fuelman » 02 Jul 2024, 9:13 am » wrote: ↑ Read an article this morning about a woman complaining about a notice from her mortgage company saying her monthly payment is going up $2000.00 per month. That $1.1 million ARM she took out in 2016 has run it's course.
Now for the kicker, this lady is a residential loan officer.
There is no cure for stupidity!
