i heard about this type of loan on a radio program the other day and i'm curious to find out how it works and if it's a scam or not. i've tried doing some resaerch on it and visited the website (arcloan.com) but there's not really a lot of info on how it works (red flag number one). but it was on a respected radio show in my city so i don't think it's an obvious "no". just seeing if anyone here would know more about how it works, what the fine print might be, and if it's a good idea to refinance. they claim it's a no closing cost loan that automatically adjusts downward if rates decrease, but never go up when rates rise. sounds too good to be true, right? anyway, anyone have any ideas?