IG-88 Says

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“Sure, you can do that, but your rate’s gonna adjust in 2010 — and it sounds like you’ll be staying in your home for more than five years. With a three and one, you’re saving an eighth on the rate. Thing to keep in mind is that interest-only’s aren’t for everyone. Minimum amount you pay is the interest, yes. What’s that? Well, that’s exactly the thing. It’s up to you pay down the principle, else you’re not really building any equity — unless your place appraises like crazy. Wish we we could look in a crystal ball! HA! I always say if I could predict the future I’d be at the tracks right now! Screw the office, I’m headed to the tracks! HA HA! Anyway . . . where were we? Right, three one ARM’s. Okay . . . ”

D2452.jpg

“Sure, you can do that, but your rate’s gonna adjust in 2010 — and it sounds like you’ll be staying in your home for more than five years. With a three and one, you’re saving an eighth on the rate. Thing to keep in mind is that interest-only’s aren’t for everyone. Minimum amount you pay is the interest, yes. What’s that? Well, that’s exactly the thing. It’s up to you pay down the principle, else you’re not really building any equity — unless your place appraises like crazy. Wish we we could look in a crystal ball! HA! I always say if I could predict the future I’d be at the tracks right now! Screw the office, I’m headed to the tracks! HA HA! Anyway . . . where were we? Right, three one ARM’s. Okay . . . ”

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