Aug. 06 we had high hopes. $ 350, 000 at $64, 000 down and another $7, 000 to close escrow. I trusted my lender; I'm no financial genius. I asked for fixed at $1700 a month. He said could'nt be done. But he did say an option ARM would work by defering the interest. A three year option ARM, stated income, $4800 high yield premium. Yes I now learned this was totally bad loaning practices by my lender. I did'nt even know what defering meant just to show you an example of my knowledge. Anyway, I'm sure you all know how... read full review »