Interest only mortgages
Proceed with caution...I think this type of loan will be the financial undoing of a lot of people...may see a spike in foreclosures...those who are considering it had better be sure that they can handle worst case scenario as far as the monthly mortgage payment going up.
However, I've heard that this loan may not be a bad idea for investors who are into "flipping", or buying properties at reduced prices (such as a foreclosure) and selling them for a profit.
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