From what I understand about mortgages, which isn’t a lot at all, I just don’t see any scenario where an interest only mortgage is a good idea.
You pay it off for let’s say 20 years and you still have the full balance remaining. What am I missing?
In: Economics
Well, that is like paying rent when your landlord is the bank (in the US with their weird give-back-keys-rule even more so) and speculating on the housing prices moving in your favour.
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