During the financial crisis in 2007 and 2008, millions of mortgage borrowers defaulted on their loans sending Wall Street and the mortgage industry into a nosedive. With billions of dollars in losses on the horizon, bankers and news anchors were touting the problems of adjustable rate mortgages and balloon payments. But are adjustable rate mortgages all bad? Not at all! Let’s take a look at when adjustable rate mortgages make sense. Continue reading →