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dickmilde

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dickmilde

Re: dickmilde post# 40141

Thursday, 07/02/2009 3:24:58 AM

Thursday, July 02, 2009 3:24:58 AM

Post# of 194228
I met with an attorney yesterday
and we had a discussion on real estate and mortgages...

His adjustable rate mortgage ( ARM ) just reset and his rate went DOWN from 5.5% to 3.55%.

So this huge refi bubble graph that keeps floating around the internet really needs to be taken in proper context... An ARM that resets doesn't necessarily mean that the next step is foreclosure.

Dick Milde
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