You are so right!!! That is what happened to my in-laws. They built a home and did an interest only loan and they keep refinancing. They are so stressed about the house that they hate it. They can't afford it! I refuse to do interest only. They had no problem doing a zero down loan for us, because that's what we would need. It's just the student loans that are giving us problems. It's a shame the way it's working now.
__________________ Momma  Tilly
Money will buy you a pretty good dog, but it won't buy the wag of his tail. |