every one says option arm loans and negative am loans are bad. i know negative am's are bad.i was going to youe an interest only or a fixed option arm for 5 - 7 years. I plan on keeping the proerty for a short term. and theres no pre payment penalty. im using the interest only and option arm fixed, but i plan on selling the house in 1-4 years. im buying the houses 10-20% below value and am putting money down, and the neighbor hood is apprechating at 10% rightnow.

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The option ARM is a loan that is best suited to investors and homeowners who only intend to keep the home for a short time. It is not a good choice for anyone who may be using it to buy more home than he or she can afford. Unfortunately, that describes a lot of buyers who are taking out this type of loan. Anyone who is considering a home purchase should be very careful if this type of loan is offered, as it could leave you both bankrupt and homeless.