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Originally Posted by dig420
I have a place in Lomita, 30 yr fixed.
No way I would take a variable ARM or interest only
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you're in good shape. I don't have the story to back it up, but it said MOST of new mortages in Cali are shady ARM IO speculative nonsense. Once those speculators start going bust, that could cause herd-like panic. That does NOT bode well for the economy.