Re: rent rates these days
I would tend to think that the only reason to get an interest only loan is to justify buying a house that you could otherwise not afford. Have you noticed that there are suddenly a whole lot of foreclosers in the housing market? That's mostly because the grace period on all of those interest only loans is expiring and the principal is kicking in. All of a sudden people's payments are doubling. Faced with the choice, I think that I'd much rather rent than get into an interest only loan.
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