In this market I would be skeptical of any plan which added money to my principal.
If the house was 100% financed and $2100 is added to the principal of loan, the OP owes more money than house is worth.
I am not familiar with ARMs. Do they pay down principal or are they interest only? If the loan is not paying down principal, and the house does not appreciate 2k every 2 years, I see this as a bad deal in todays RE market.
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