cute fuzzy bunny
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
The 5/1 fixed/adjustable interest-only version.
Very low apr first 5 years, interest only, then you start digging into principal. Idea being that you'll move in the first 5 years and 'reap the increased value of the property'. Lower monthly payments than the old, boring, passe 30 year fixed interest-only...
Looks like the mortgage folks will just keep coming up with cheaper and cheaper alternatives for people to dig themselves into overpriced property...
Very low apr first 5 years, interest only, then you start digging into principal. Idea being that you'll move in the first 5 years and 'reap the increased value of the property'. Lower monthly payments than the old, boring, passe 30 year fixed interest-only...
Looks like the mortgage folks will just keep coming up with cheaper and cheaper alternatives for people to dig themselves into overpriced property...
