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Originally Posted by Airstreamer
Area real estate person indicated that most folks were getting 'interest only' mortgages to be able to afford them. (How STUPID can you get?)
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Not having obtained a mortgage quite a while, I'm guessing that means that someone is never paying against the principal? If that's true, then it strikes me as being extremely stupid. What good would it do you? You'd never have any equity, and you'd never pay the damned thing off. You might as well pay rent.