See how many more ideas are exchanged without the rancor and theatrics...I agree, most excellent posts, med and 7x!

Med, I do not see how anyone can make the largest investment of their lifetime and NOT read the fine print of the contract!
I agree that 95% of all adjustable rate mortgages are nothing but trouble, but they are not "scams"..EVERYTHING is disclosed in the contract...Who is to blame if the borrower does not bother to read the fine print or understand what happens if and when interest rates go up?
These people are not victims as you suggest.

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If you wind up with a boring, miserable life because you listened to your mom, your dad, your teacher, your priest or some guy on TV telling you how to do your shit, then YOU DESERVE IT.
~ Frank Zappa ~

Liberty means responsibility, that is why most men dread it.
~George Bernard Shaw~