ARMs can be a great benefit for new homeowners who want to keep their payments lower in the early years of home ownership. But it's essential that you review the terms critically before you sign. The current lending crisis in the United States revealed that risky loans made at a time of an overheating real estate market caused financial disaster for millions of people — mostly affecting those who were least equipped to deal with it. Hopefully the memory of the post-2006 real estate recession will linger for a long time.