Hi Catherine,Thanks for your reply. One question...You wrote:---------For the average homeowner, such a strategy merely erodes principal because there's no one else (renters) making the payment. I don't like neg ams for primary residences when there are products such as 1- and 6-month LIBOR ARMs that do practically the same thing (choices = interest only, fully amortized 15/30 year) with a margin half as large as Option ARMs (1.25 vs. 2.5, respectively).---------Isn't part of our loan compliant with the same things you are talking about here? We do have the option under the loan I proposed to pay Interest Only, Fully Amortized 15/30 year payments instead of the minimum payment due. Wouldn't this then be the best of both worlds for us in the short-term (as primary residence) and longer-term (when we convert to rental)?Please correct me if I am wrong, but that is how I read your reply. Since we do have the option of those other type payments in any month does it make it similar to the LIBOR you are recommending?Thanks a lot! :)
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra