Has anyone been noticing the high percentage of interest only loans? Yikes.
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Thread: Interest Only Loans
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08-13-2005 02:16 PM #1
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Interest Only Loans
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08-14-2005 11:13 AM #2
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Re: Interest Only Loans
Prime Rate just hit 6.5% so most interest-only HELOC will be at this level or higher.
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08-14-2005 11:51 AM #3
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Re: Interest Only Loans
I recently read that in some areas one (1) out of three (3) mortgages was an "Interest Only" loan.
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08-14-2005 12:31 PM #4
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Re: Interest Only Loans
Guess I have a mortgage broker that is good at explaining the risks of IO as most of my clients have been going with fixed mortgages over the last year+-.
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08-14-2005 02:38 PM #5
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Re: Interest Only Loans
Here is a quote from a Business Week magazine article (May 30, 2005 edition).
That is a lot of mortgages that are interest-only. Eventually there will be some rising payments to make."31 - Percentage of new single-family mortgages that were interest-only during 2004. That is up from 1.5% in 2001".Browse free real estate listings, post your property for rent or sale, or leverage Free Real Estate Investment Analysis.
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08-14-2005 03:01 PM #6
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Re: Interest Only Loans
The piper "always" gets paid.
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08-14-2005 04:44 PM #7
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Re: Interest Only Loans
True. But with many of these interest only loans, it will be at the foreclosure sale.
Originally Posted by ResaleBroker
The piper "always" gets paid.Last edited by Salt River Media; 08-14-2005 at 04:48 PM.
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08-14-2005 05:39 PM #8
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Re: Interest Only Loans
My point exactly! Originally Posted by Salt River Media
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08-14-2005 05:56 PM #9
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Re: Interest Only Loans
Thats when we get to make some real money Originally Posted by Salt River Media
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08-14-2005 06:29 PM #10
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Re: Interest Only Loans
That's what I'm talking about. Originally Posted by kensmithkw
Thats when we get to make some real money.
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