Now that the economy has picked up some, the housing market is recovering a little, and memories of the financial crisis are fading, some lenders are re-introducing a few “creative” financing methods. It’s possible to get an interest-only mortgage again, or get a loan with a low, low rate at the beginning. An interest-only loan is tempting because the borrower only pays the interest each month. This state of affairs can last from five to 10 years. When you only pay …
Article by Smart On Money. Read entire story here.
admin