Agent

Option ARM fallout to surpass subprime mess

Significant payment shock likely for many loans resetting in 2010-11
Published on Aug 20, 2008

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In a recent column, shortly after Washington Mutual announced it would no longer offer its option adjustable-rate mortgage (ARM) to home buyers, I noted that the program was a benefit to our family because it allowed us to adjust our monthly payments given the educational needs of our four growing children.

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