Is an ‘interest-only’ mortgage a wise choice?

Answer depends on how long you plan to keep home
Published on Sep 19, 2005

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by CareyBot

DEAR BOB: What is an “interest only” mortgage? We have a 4.875 percent adjustable-rate home loan, but another bank offers 4.25 percent “interest-only.” Is this a good or bad deal? – Vincent P. DEAR VINCENT: Interest-only home mortgages have become ...