Sharpshooters USA

[GeauxLSU]

Do adjustable rate mortgages ever work out? I've literally never heard of a good ARM story.

The only one I ever had was a 5/1 on the first home I purchased. I made out like a bandit on it. But I was also smart enough to refinance to a fixed when it hit bottom.

 

[thevalueman]

well...I had one, and it worked out pretty good for me....rates went down, and things were good...rates started going back up, I was able to shift into something different...I suspect there are probably many winners in the ARM scheme....results may vary..

 

[Timber Cruiser]

Unfortunately, this particular ARM was acquired with the purchase of the business and well….Biden happened. Super glad to hear y’all’s ARMs worked out GREAT for y’all though!!!! That’s awesome!!!! Great work guys!!!! Way to show ‘em!!!

 

[dhal22]

what, in Gods name does an ARM have to do with sharpshooters going out of business???

Thread drift other than Sharpshooters is giving up their property due to an ARM mortgage.

 

[dhal22]

An ARM got me a property a few years ago that has doubled in value. I raise rents regularly so making good money other than interest rate increases. Going to convert to a fixed or pay it off and do away with the arm though.