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Happy Valentine's Day--your ARM just reset

Posted by: Peter Coy on February 14, 2008

martian valentine.jpg

As usual, Dean Foust was ahead of me with the idea of linking to a podcast. Here’s a link to a Minnesota Public Radio show I was on this morning.

And here’s my Valentine poem from the show:

Roses are red
Violets are blue
Your ARM just reset
And the payment is due

(Pictured: A land formation on Mars that the U.S. Geological Survey calls the “Martian Valentine.”)

 

About

BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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