Apr 18, 20080
What You Should Know About the Option ARM Mortgage
Everybody I have talked to finds the elaborate vocabulary of mortgages distressing and complex. There is the Pay Option, the Pick-a-Payment, the Cash Flow ARM, and then there is the Option ARM. The beauty of these types of loans it that there is a different start rate, i.e., rate at the beginning and different monthly payment options. But as they say, "buyer beware." These mortgages are the esoteric beings ...
