A related story:
A friend of mine told me at a party last week that his loan resets in July and he will be in big trouble. He called me this morning his bank had called him to ask if he was ready for the reset. He has never missed a payment no lates nothing at all. He told them his current payment was a big struggle and the reset was going to kill him. They told him someone would call in three days to work it out, at less that his current payment! The lender was Chase.