Option ARMs. More pain for California

Map of Misry. Option ARMs. BusinessWeek

The percentage of Option ARM mortgages in California is sharply higher than the national average, reaching 25-30% in southern California. With these mortgages, you can choose how much to pay each month – until a trigger amount owed is reached, then the payments go much higher and stay there.

Click the BusinessWeek image to view full-sized. Scary, especially if you live in California.

Tip: Infectious Greed