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The New DU. Reply #11: Not necessarily. We took an ARM against our paid for house
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JeanGrey
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Mon Mar-31-08 01:23 PM
Response to Reply #10 |
| 11. Not necessarily. We took an ARM against our paid for house |
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to buy another house outright. The ARM had no increase in interest for five years. Within 10 months we sold the house, and paid off the ARM. A bad deal? Hardly. The only time ARM's are bad are when you a) shouldn't be buying a house in the first place because you can't afford it and b) are buying a mansion that you can't afford.
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