Do you believe in the the old testament as literal truth? Why? Or Why not?

I recently found Christ and Heavenly Father and now I'm trying to figure out where my stance is on all of the rest of Christianity. If I'm not mistaken this question seems to be a bit of a controversial and subjective issue in Mormonism. I've met quite a bit of latter days saints who don't believe the old testament is literal truth. So what is your stance on it and why?