Yeah... On top of what everyone says.. I should mention that I live in Montgomery county MD where the housing prices have gone up 70% in the last 5 years. That is one of the reasons why I was looking into the pros and cons of interest only options on the mortgage loan.
Michael T. Tangorre > -----Original Message----- > From: Ian Skinner [mailto:[EMAIL PROTECTED] > Sent: Friday, January 21, 2005 10:23 AM > To: CF-Community > Subject: RE: Interest Only Loans > > I've always heard that getting an interest only loan, is a > bit of a gamble on the housing market. The buyer is hoping > that the value of the house will accrue enough in a few years > that they can re-finance later using the appreciated value as > the down payment on a more standard mortgage. > > -------------- > Ian Skinner > Web Programmer > BloodSource > www.BloodSource.org > Sacramento, CA > > "C code. C code run. Run code run. Please!" > - Cynthia Dunning > > > > ...-----Original Message----- > ...From: Tangorre, Michael [mailto:[EMAIL PROTECTED] > ...Sent: Friday, January 21, 2005 6:36 AM > ...To: CF-Community > ...Subject: Interest Only Loans > ... > ...Has anyone gone down the road of interest only loans for a > mortgage? > ...You make interest only payments for the first 5, 10, or 15 > years then ...regular mortgage payments with interest after > that initial period is up. > ... > ...Pros: > ...The entire interest initial payments are tax deductible. > ...You can take the principal portion of the loan you are not > paying and ...invest it. > ...Great for people not planning to make the home their final > residence. > ... > ...Cons: > ...Need to be a disciplined saver/invester. > ...Monthly payments increase dramatically after initial period. > ...? > ...? > ...? > ... > ...Looking for anyone who might have experience with this > type of loan. > ... > ...Thanks! > ... > ...Mike > ... > ... > ... > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Purchase Homesite Plus with Dreamweaver from House of Fusion, a Macromedia Authorized Affiliate and support the CF community. http://www.houseoffusion.com/banners/view.cfm?bannerid=55 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:143734 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
