Interest Only Loans
I'm considering switching to an interest only loan. Normally, it'd be the last thing I'd go for, but next year's employment is looking very iffy and I do plan on selling the house in a few years.
An interest only loan looks like it could shave off some of my monthly payment, and since I'll be selling the house soon, putting money towards the principal doesn't matter, right?
Anyone have an interest only loan for their house? Was your experience a good one or a bad one? Any things to watch out for with this type of loan?
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