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Originally Posted by Jacklad
I guess they are just hoping that the housing bubble doesn't burst - if you can't sell the property for at least what you paid for it, you'd end up still owing. 
Jackie |
I am curious, if you had a choice to rent an apartment for the same price of living in a nice home with yard and etc. The only choice would be Rent or Interest Only loan. In both ways you are still blowing your money away but you are tied to the home with a loan.
Which of the two choices would be best? I am wondering if those that are on the interest only loan are using justification on a home they can not afford? Well honestly with the prices of homes in California and seeing millions of beautiful homes around me, I would have to believe a percentage can't afford the homes since the low end home prices are at a handle bar that is much too high for people who has not acclimated a lot of wealth yet.