What pisses me off about this story is that they gambled on an interest only ARM to get a lower rate and lost.

But they are winners because they are going to get their interest rate FIXED at a rate that is lower than my 30 year fixed rate loan because I did the responsible thing and bought a house I could afford and didn’t gamble on rising rates.

Once again, the people who do the right thing are the losers and the irresponsible come out ahead….