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by CareyBot

An increasing number of mortgage holders have "creative" financing, but the number of people buying homes above their price range appears to be declining, according to a new poll. The poll, conducted at the end of August by Harris Interactive for the Wall Street Journal Online, also found that mortgage brokers still have an edge over direct lenders, with 42 percent of respondents using a broker and 28 percent going direct for home loans. Of the 2,790 people polled, 38 percent of those with a mortgage said they have a "creative" or payment-option loan, up 5 percent from a similar poll last year. Creative mortgages were defined as interest-only, piggyback, payment option or "miss-a-payment" plans. While 14 percent of mortgage holders who reported having interest-only loans, that's down fro...