ARMs?
Please excuse my ignorance in this subject... I was just reading a book the other day that talked about buying a property using the loan type of ARMs for 3 years or 5 years, which for what I understand is only paying interest for that time, after that I would either have to refinance or sell the property. Please explain if this really works? I mean buying the house and then renting out, and when the terms are about expire just sell the house or refinance, is this how people make a profit????