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If governments see fit to curb the use of interest only mortgages, I propose a solution for mortgage borrowers everywhere.
The 100-year mortgage.
Using the 100-year mortgage, your payment on every $100,000 borrowed will be just $1.26 higher than it's corresponding interest only payment.
Yes, this post is somewhat tongue-in-cheek.
UPDATE: Sellsius already posted on this, like, three weeks ago. But, I will not be stopped from taking my rightful place as a mortgage industry visionary. Behold: the 101-year mortgage.
Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator call 513-443-2020.
Bonus: Click to get a free, no-obligation rate quote. I love to work with my readers!
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