Charlotte, NC (openPR) 14th June 2007

Consumers who own a house for a few years before the sale are those whose income is reduced temporarily, but expected to rebound, or those who quickly fix and “flip” to expect a property are ideal candidates for interest-only mortgages. These mortgages offer lower payments in the early stage, because the owners are only partial repayment of interest on their loans.

Remember, with a single mortgage, mortgage payments will be higher at some time during the term of the loan, but in the meantime, this type of loan offers a flexible buyer. Most interest-only mortgages offer a window 5:00 to 10:00 years lower payments over the payment of higher amounts kick in.

and retain the highest levels of payment never kicked to recommend to refinance their mortgages, many lenders homeowner interest only mortgage to a traditional fixed rate before the interest-only runs. The earlier a refinancing owner, plus payments are likely because the owner would begin to repay principal.


The disadvantage

interest-only mortgages are:

No equity

The buyers are not />

difficulty refinancing

If you are unable to pay the higher payments once the interest free period comes to an end – or refinance before that time – you could lose your home.


Although

an interest-free loan can be attractive because of the flexibility it offers, please note that nothing is free. Pay smaller amounts to the front of a loan means that all of the above amounts are in the back-end kick. Interest-free loans in many forms, so consumers should review before accepting the terms of this type of housing loans.


About GetSmart ®


GetSmart is a leading financial services marketplace that offers borrowers access to a range of loan products including mortgage loans and refinancing, home equity loans and lines of credit with a network of over 250 lenders. Consumers who visit the site to appeal www.getsmart.com 1-800-GETSMART complete a short and simple and will then be matched with up to five competing lenders <>. / P>

GetSmart is by LendingTree, LLC, owned by a company of IAC.


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Low-interest home equity loans