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Danger of Interest Only Mortgage
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By Kristy Annely

The biggest potential danger that any one going in for an interest-only mortgage lies in that they may actually be tempted to borrow more than what they could realistically afford. The temptation to own a house, for example, may be so overpowering, that you may forget that interest-only mortgages are interest-only, only in name! You will have to repay the interest and the principal, over a period of time.

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This entry was posted on Wednesday, August 16th, 2006 at 4:21 am and is filed under Refinance. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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