No, sadly it is nowhere near escrow. Nor is the loan process starting. <>. But all inspection contingencies are through and they took posession today. I started a new thread with the details.
I do have a question about ARMS though.
I took a 5/1 ARM because I thought, I would be out in less than 5 years. But if you thought that you were going to stay in a house long term (back in ’02 or so timeframe), was a 5/25 available to you? Were the rates on that signifigantly higher? Why didn’t more people sign up for those? It would seem that that type of a mortgage would be more appealing to the majority of people because you are only risking a jump once.
