Should Adjustable Rate Mortgages be out lawed??

[How stupid can you be?]

It sure seems like that the ones really having trouble with their mortgages are the ones who got suckered into a A.R.M. or all the people who lost their jobs because of relocation of manufacturing companies,

[AntDU]

People got themselves into trouble because many of them were to lazy to research and understand what they were doing.They jumped in the pool and not only didn't know how to swim, they didn't know the water was toxic.A.R.Ms. can be fine if used correctly - and switched to a fixed rate before things get high. The government has to intervene right now and cut rates for the economy BUT this is a cop out for poorly run companies and people who bit off more then they could chew.

[Ryan S]

no... they are a tool and if used properly can be very hospitable to people. People need to learn about finance and pay attention to what they do.sure ... there are crooks in the mortgage industry that misrepresented the product to clients... sold them a payment while glossing over the rest.... and those crooks and their firms need to be punished...but the product is innocent.... people are greedy and ignorant... and now they are paying for that ignorance .. especially since they used it to buy a house they couldnt otherwise afford!!...

[slavaret2]

No.You can't outlaw greed and stupidity.If you outlaw ARMs, the market just will come up with another product to fleece the greedy and the stupid.