LOL! I love the quote, "people are getting a lot smarter about their mortgages!" Yeah, right! Maybe 1 out of a hundred is investing the difference between these loans and a traditional 30 year. My coworkers use the money to buy fancy cars and useless toys. I'm just getting ready to get mad when all of these people go, "oh, my flipping/speculation/no money down adventure is over? O.K., I'll just walk away from all this debt and contribute to the crash, since a couple years from now everybody will lend to me again anyway.". 
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