Why is adjustable rate mortgage a bad idea? Constantly owing money to others prevents you from paying yourself through saving and investing, making it difficult or even impossible to build wealth over time. Explain why an adjustable rate mortgage (ARM) is a bad idea. An ARM is a mortgage with an interest rate that changes based on market conditions.
Can you refinance an ARM loan? Mortgage Guide Refinancing can be done for many reasons, but switching from an adjustable-rate mortgage (or ARM) to a fixed-rate... more