Credit Card Forums

[geb9696]

We constantly see on the news and finance channel's about how people are defualting on mortgages and loans because of the rise in ARMs. Has anyone here had any first hand experiance with this? It seems like this subprime mess is only going to get worse. It would be interesting to hear from people who are directly affected.

[jnjblogger]

This has no direct effect on me because I have a fixed-rate mortgage, but I do think it is going to be a huge mess for many people and for our economy overall. Loans were being made that never should have been approved in the first place, so I hold the lenders partially responsible for creating this situation.