[quote=sdrealtor]Sorry but you are twisting my words. Assuming your old TOXIC OPTION ARM today when rates are sub 4% means NOTHING. In the future, someone being able to assume a 30 year FIXED rate loan at 3.75% could have lots of value. Sorry….you lose again BG[/quote]
For the record, FHA rates are currently just over 4%.
And again, mainstream prime and Alt-A OPTION ARMS of the 1984-2002 era were NOT “toxic!”
The reason OPTION ARMS were given a bad rep of late is due to them being later turned into sub-prime vehicles for the purpose of funding RE purchases for “toxic” borrowers! The features of these loans bear no resemblance to mine.
