[392cobra]

I'm having problems trying to figure out the "why" on this ARM business.

Why would anyone get a ARM when interest rates are at historic lows ??
What direction would you expect it to move during the life of your mortgage ?

It seems like a lot of people had no business (the finances) buying a house in the first place.

Buying a house with an inflated sticker price.Too high a percentage of their take home pay going to the payments,even before the ARM's adjusted up.Very little put into the down payment.Bad credit,so you start off paying at an inflated interest rate.

A lot of people shot themselves in the foot and the lenders loaded the gun for them instead of taking the gun away from them.

In the end it's the borrower's fault though.You shouldn't expect other people to protect you from yourself.