>>>I don't know what a heck are you talking about. Nobody takes fixed rate installments. Unless you are ex-con or something and bank would not loan you otherwise. Last time I had one was in 1997 , banks don't even offer them any more I thing.
>>>
>>>Yeah, It is all Obama's fault!
>>>If it is not Obama then it is sure Europe fault!
>>>If none works, then try Al-qaeda.
>>>
>>>Stay perplexed.
>>
>>Laying blames is exclusively your business so don't peddle it around. FYI, great majority of US homeowners take fixed-rate mortgages.
>
>Wouldn't buy a house without one. I remember the 'negative amortization' loan debacle of the 80's.

As I read in papers these 'negative' loans were still popular in California just few years ago.
Frankly, when I took my mortgage (this year, btw) I considered interest-only as an alternative (it is still fixed rate, but assumes proactive payment schedule), but rate was seemingly lower for fixed at the day of signing and the mortgage agent strongly advised against and convinced my wife :).