Non-traditional mortgages: Are they good?
Are non-traditional mortgages good? Many people would have us believe that they are a prime cause of ruin and that if not managed properly, they can lead to your financial doom. Nothing could be further from the truth! Consumers today are an educated lot. They know the options available to them and make an informed choice when they go in for interest-only loans instead of traditional mortgages.
The best thing about an interest-only loan is that it gives you flexibility. During the first decade of your loan period, you can get away with paying only the interest part of the loan. That means, you get this long period to build up on your finances and allocate them to more necessary expenses that deliver better rates of return.
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