Hell Toupee wrote:

It's fairly routine to have them agree to set you up with a fixed-rate
loan, only to arrive at closing and discover they've set you up with
an ARM. They're counting on you needing the loan badly enough that
you'll go along with it.


And it's real fun when you discover this during a combined closing,
just after you've sold your old house. Now you're homeless when you
flip to the loan document and it says 12% ARM when you locked in at 5%
fixed. WTF?! AAARGH!


-rev