Simple-interest mortgage can be a trap

How late payments, daily interest accrual cause grief
Published on Nov 13, 2006

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

The more I learn about simple-interest mortgages (henceforth SIMs), the more aware I have become that my previous articles on the subject understated the risks they pose for borrowers. I placed too much emphasis on the fact that a borrower ...