[Ayers Pfleger & Wright R Nuts!]

...Rates Going Up In Some States? I have friends who's rate went up so high recently they are being forced into foreclosure! From CIT! Now they are targeting the people who pay their mortgages on time and raising rates for the resposible ones to lose their homes! This is very recent stuff! Destruction is coming to us guys!

[Lettuce pray]

They should have gotten a fixed rate mortgage. They can't raise those rates. Too bad for them.

[n0k00laid]

You can't build a socialist utopia without destruction of the current structure.

[dudiedood]

An adjustable rate mortgage (ARM) does that, and it is in the agreement contract that your friends signed.

[Ron R]

because Obama promised the banks that taxpayers will pay for foreclosures of people that are up to date with their mortgages....banks are foreclosing on good people so they can get the governments money....but it is good for your friends, because they qualify for a new mortgage with a lower fixed rate......they will keep their homes at a lower mortgage rate......the banks have to foreclose first for the homeowner to qualify...it is a good thing for those paying high mortgage rates.....

[BERNIE MADOFF WITH MY MONEY!]

It's because they got an ARM. There only only rare cases in which and ARM is good. Should have gotten a Fixed Rate.It's good that they pay on time but they should have read their loan documents and understood the terms of the loan fully.