Quote:
Originally Posted by dmk08
This is pretty much why the whole housing crash of 08 happened. People in 5 year interest only ARM loans and then the piper came calling....
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I had one of those back in 2006! My broker found a way to get me a $435k, 0% down, 30 year, interest only mortgage with a 48% debt to income ratio. I was so happy! Then I wasn't.