Adjustable rate mortgages are fantastic financial instruments for some, but not all. The financial collapse of 2008, along with the less-informed media will have you believe that ARMs attributed to the housing crash. This is not true.
Subprime loans caused the housing bubble to burst. There’s a difference between subprime, an ARM, and a subprime ARM. Loan officers, this episode is for you - your home loan borrowers and realtor partners. Everyone else, this is your public service announcement.
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