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What is an Adjustable Rate Mortgage Loan, and How Did it Get So Many Homeowners Into So Much Damned Trouble?

The legacy of the adjustable rate mortgage will doubtlessly be one of heartache and pain, although it does have a definite place in the mortgage financing toolbox. You'd think that everyone would at least know what an ARM is now, but just a year ago a Bankrate survey found that 34% of mortgage holders didn't even know what kind of mortgage they had, so there you go.....
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