["Ridge"Racer]

Originally Posted by wbb1211

It is just not the bad loans people took on on their homes it is also has to do with propbety taxes going up. In florida people were just flipping homes. They would purchase on and not even take down the for sale sign. They would get ARM or interest only loans and sell the home for a good profit because the home values were going up so fast and you could sell in no time. Well a good ammount people got stuck with thoes homes when the market crashed. Lenders were giving out loans like candy and property values were going up way to fast. Now thoes people are stuck with a home they could not afford and when the ARM interest rate goes up and or the interest only period is up they are in deep trouble. It is their own fault. Now the prices there have went down which even creates other problems. I had a guy try to get me to take a ARM loan. I am so glad I didn't and stuck with my VA fixed rate.

fixed 5% ftmfw!