Most people who took ARMS at a low rate had expectations about the future of the economy based on the misinformation created by the inflationism of the state monopoly currency system. They expected that they could sell their house at a profit; they expected that they could refinance into a fixed rate loan at a low rate; they expected that they would be getting a better job and make more money.
Inflationism creates an illusion of wealth, even as it allows the State to steal purchasing power from all savings and retirement funds. It also leads people to make bad investments in things that appear profitable, whether those investment be expensive houses financed through ARMS, or businesses that will not be profitable when the fiat currency that creates demand for their product also bids up the prices of their rent and factors of production. Thus "liberals," demwits, Keynesians create recessions and poverty in order to fund their counterfeit money credit card that they use to fund their schemes On Thu, Mar 26, 2009 at 1:10 AM, madtim3bat <[email protected]>wrote: > There are going to be adjustments in ARMs for years to come that will > cause widespread failures. This is a problem that will be with us for some > time. > > If you could reasonably be expected to pay the higher rates, then I am not > against an ARM. The problem is many people got ARMs where they could barely > pay the lower rate. > > Many people planned on flipping their houses. They didn't warry what > happened 3 years from now, because they would have already sold their > house.... Well now their mortgage is upside down, and they can't sell their > house. > > --- In > [email protected]<ThePoliticalSpinroom%40yahoogroups.com>, > vinni_77024_77024 <no_re...@...> wrote: > > > > ARMs have been around since before I got in the business. > > > > 3/1 ARM - rate stays the same for 3 years with a cap of 5 above initial > rate and can only increase 2% per year up to the 5% cap. > > > > 5/1, 7/1 and 10/1 ARMs are the same with respective terms. > > > > Fannie and Freddie ARMs have had caps for over 10 plus years. > > > > The ARMs that became toxic were the Option ARMs and of course the > subprime ARMs. > > > > __._,_.___ > Messages in this topic > <http://groups.yahoo.com/group/ThePoliticalSpinroom/message/430402;_ylc=X3oDMTM4dDZrNmlmBF9TAzk3MzU5NzE0BGdycElkAzU2NTc5OTQEZ3Jwc3BJZAMxNzA1Njc2OTY0BG1zZ0lkAzQzMDQ2MQRzZWMDZnRyBHNsawN2dHBjBHN0aW1lAzEyMzgwNDQyMDMEdHBjSWQDNDMwNDAy>( > 2) Reply (via web post) > <http://groups.yahoo.com/group/ThePoliticalSpinroom/post;_ylc=X3oDMTJyMWt2bXA4BF9TAzk3MzU5NzE0BGdycElkAzU2NTc5OTQEZ3Jwc3BJZAMxNzA1Njc2OTY0BG1zZ0lkAzQzMDQ2MQRzZWMDZnRyBHNsawNycGx5BHN0aW1lAzEyMzgwNDQyMDM-?act=reply&messageNum=430461>| > Start > a new topic > <http://groups.yahoo.com/group/ThePoliticalSpinroom/post;_ylc=X3oDMTJlcW1vdm8wBF9TAzk3MzU5NzE0BGdycElkAzU2NTc5OTQEZ3Jwc3BJZAMxNzA1Njc2OTY0BHNlYwNmdHIEc2xrA250cGMEc3RpbWUDMTIzODA0NDIwMw--> > > Messages<http://groups.yahoo.com/group/ThePoliticalSpinroom/messages;_ylc=X3oDMTJlNDVhNnZjBF9TAzk3MzU5NzE0BGdycElkAzU2NTc5OTQEZ3Jwc3BJZAMxNzA1Njc2OTY0BHNlYwNmdHIEc2xrA21zZ3MEc3RpbWUDMTIzODA0NDIwMw-->| > Files<http://groups.yahoo.com/group/ThePoliticalSpinroom/files;_ylc=X3oDMTJmbHZicjBvBF9TAzk3MzU5NzE0BGdycElkAzU2NTc5OTQEZ3Jwc3BJZAMxNzA1Njc2OTY0BHNlYwNmdHIEc2xrA2ZpbGVzBHN0aW1lAzEyMzgwNDQyMDM->| > Photos<http://groups.yahoo.com/group/ThePoliticalSpinroom/photos;_ylc=X3oDMTJlZGhzc2V2BF9TAzk3MzU5NzE0BGdycElkAzU2NTc5OTQEZ3Jwc3BJZAMxNzA1Njc2OTY0BHNlYwNmdHIEc2xrA3Bob3QEc3RpbWUDMTIzODA0NDIwMw-->| > Links<http://groups.yahoo.com/group/ThePoliticalSpinroom/links;_ylc=X3oDMTJmcXM4ODN1BF9TAzk3MzU5NzE0BGdycElkAzU2NTc5OTQEZ3Jwc3BJZAMxNzA1Njc2OTY0BHNlYwNmdHIEc2xrA2xpbmtzBHN0aW1lAzEyMzgwNDQyMDM->| > Polls<http://groups.yahoo.com/group/ThePoliticalSpinroom/polls;_ylc=X3oDMTJmYmhob3MwBF9TAzk3MzU5NzE0BGdycElkAzU2NTc5OTQEZ3Jwc3BJZAMxNzA1Njc2OTY0BHNlYwNmdHIEc2xrA3BvbGxzBHN0aW1lAzEyMzgwNDQyMDM->| > Calendar<http://groups.yahoo.com/group/ThePoliticalSpinroom/calendar;_ylc=X3oDMTJkOGZvMjdzBF9TAzk3MzU5NzE0BGdycElkAzU2NTc5OTQEZ3Jwc3BJZAMxNzA1Njc2OTY0BHNlYwNmdHIEc2xrA2NhbARzdGltZQMxMjM4MDQ0MjAz> > MARKETPLACE > ------------------------------ > From kitchen basics to easy recipes - join the Group from Kraft Foods > <http://us.ard.yahoo.com/SIG=14k7tr4su/M=493064.12016295.13271503.10835568/D=groups/S=1705676964:MKP1/Y=YAHOO/EXP=1238051403/L=/B=TMXTT0PDhEo-/J=1238044203438842/K=QI8TvEZnLQRWslCc0ioqYg/A=5530388/R=0/SIG=11nuutlas/*http://explore.yahoo.com/groups/kraftmealsmadesimple/> > ------------------------------ > The Average American's IQ is 98! 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