When I bought my house three years ago, my bank suggested an ARM. It was 1% lower than my fixed loan, which is 5.8%. I liked the idea that the fixed 5.8% will not change for 30 years. I am glad I made that choice, because otherwise, my house would be gone right now. Instead, now I am renting it to cover the payments.
The tenant is building my equity and the housing market in my neighborhood is excellent. A house sold three months ago on my street, which is not as nice as mine for $90,000. My purchase price was $68,000. Prices in Oklahoma City are very reasonable, but I also got a very good deal on my place. OKC is also experiencing economic growth, even though a lot of the US is facing a recession.
Regarding abandoned animals, these people are irresponsible and uncaring. If I was a child, I would be very concerned if these were my parents, since if they can do this to a pet, they could also abandon a child if thimes were bad enough.