"I’ve been sorting through numerous e-mails especially after the 60 Minute show looking at Option ARM mortgages. If anything, I think the show has caused more confusion and I have even seen some articles posted online that are incredibly off base on this one subject area. Some now think that the 4.5% mortgage rate is somehow going to save those in Option ARMs. It is not that simple. In addition, there is a difference between a re-cast (as in, re-calculating your loan) and a loan adjustment on more bread and butter adjustable rate mortgages. The thing about option ARMs is they fly under the umbrella of adjustable rate mortgages yet are insanely toxic. "

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