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  #1 Interest Only Loans  
Old 08-13-2005, 01:16 PM
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Default Interest Only Loans
Has anyone been noticing the high percentage of interest only loans? Yikes.
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  #2 Re: Interest Only Loans  
Old 08-14-2005, 10:13 AM
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Default 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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  #3 Re: Interest Only Loans  
Old 08-14-2005, 10:51 AM
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Default 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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  #4 Re: Interest Only Loans  
Old 08-14-2005, 11:31 AM
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Default 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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  #5 Re: Interest Only Loans  
Old 08-14-2005, 01:38 PM
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Default Re: Interest Only Loans
Here is a quote from a Business Week magazine article (May 30, 2005 edition).
Quote:
"31 - Percentage of new single-family mortgages that were interest-only during 2004. That is up from 1.5% in 2001".
That is a lot of mortgages that are interest-only. Eventually there will be some rising payments to make.
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  #6 Re: Interest Only Loans  
Old 08-14-2005, 02:01 PM
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Default Re: Interest Only Loans
The piper "always" gets paid.
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  #7 Re: Interest Only Loans  
Old 08-14-2005, 03:44 PM
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Default Re: Interest Only Loans
Quote:
Originally Posted by ResaleBroker
The piper "always" gets paid.
True. But with many of these interest only loans, it will be at the foreclosure sale.
Last edited by Salt River Media : 08-14-2005 at 03:48 PM.
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  #8 Re: Interest Only Loans  
Old 08-14-2005, 04:39 PM
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Default Re: Interest Only Loans
Quote:
Originally Posted by Salt River Media
True. But with many of these interest only loans, it will be at the foreclosure sale.
My point exactly!
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  #9 Re: Interest Only Loans  
Old 08-14-2005, 04:56 PM
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Default Re: Interest Only Loans
Quote:
Originally Posted by Salt River Media
True. But with many of these interest only loans, it will be at the foreclosure sale.
Thats when we get to make some real money .
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  #10 Re: Interest Only Loans  
Old 08-14-2005, 05:29 PM
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Default Re: Interest Only Loans
Quote:
Originally Posted by kensmithkw
Thats when we get to make some real money .
That's what I'm talking about.
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