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Re: Mortgage crisis in the US...
Also, I should note that the ARM is just one option available when getting a mortgage. Not everyone in the US has one, just those that were looking for a very low monthly payment @ the start of their loan. I just have a simple 30 yr fixed payment. Difference being that I was paying more initially than those with an ARM and now my term and rate looks like a bargain to those with an ARM.
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