Tag Archives: Interest Only Loan

How do “Refinance” companies make profit on equity “interest only” loans?

Posted on October 23, 2009 by admin

Michael K asked: Last year, I was compelled to agree to an interest only equity home loan. I paid cash for my home 2 years prior, and owned the home without mortgage of any type. Now, I am paying off … Continue reading →

Posted in Renting & Real Estate | Tagged , , , , , , , , , , , , , , | 3 Comments

Should I stay away from a second mortgage interest only loan?

Posted on May 2, 2009 by admin

dwanal asked: I’ve been approved for a 1st mortgage at a fixed rate of 7.38 and a 2n mortgage interest only at 10.425. This loan is for an investment property. I’ve been told that the 2nd loan is Home equity … Continue reading →

Posted in Personal Finance | Tagged , , , , , , , , , , , | 8 Comments