The NYT Discovers Option ARMs

The subject of Option ARMs has been torn apart every which way in the blogosphere. Yours truly and many others have sacrificed unconscionable amounts of pixels in pursuit of one more post.

Apparently, the MSM wasn’t reading. It seems that the New York Times has just discovered the subject. James Leland has a new story about the threat they pose –

Adjustable Mortgages Loom as Threat to Housing Recovery

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