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    If you are a considering using an interest-only mortgage to finance your home, it is important to understand the risk involved with these mortgages. Interest-only mortgages are dangerous because they allow you to qualify for more mortgage than you can actually afford when the interest only period ends. Here is what you need to know about interest-only mortgages to avoid losing your home.

    There are advantages to financing your home with an interest-only mortgage, at least initially. Interest-only mortgages give you a low monthly mortgage payment and the largest mortgage interest tax deduction. The thing many homeowners with interest only mo

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    these mortgages. Interest-only mortgages are dangerous because they allow you to qualify for more mortgage than you can actually afford when the interest only period ends. Here is what you need to know about interest-only mortgages to avoid losing your home.

    There are advantages to financing your home with an interest-only mortgage, at least initially. Interest-only mortgages give you a low monthly mortgage payment and the largest mortgage interest tax deduction. The thing many homeowners with interest only m

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    afford when the interest only period ends. Here is what you need to know about interest-only mortgages to avoid losing your home.

    There are advantages to financing your home with an interest-only mortgage, at least initially. Interest-only mortgages give you a low monthly mortgage payment and the largest mortgage interest tax deduction. The thing many homeowners with interest only m

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    There are advantages to financing your home with an interest-only mortgage, at least initially. Interest-only mortgages give you a low monthly mortgage payment and the largest mortgage interest tax deduction. The thing many homeowners with interest only m

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    you a low monthly mortgage payment and the largest mortgage interest tax deduction. The thing many homeowners with interest only mortgages neglect to realize is that interest-only mortgages are not interest-only forever; at the end of the interest-only period the mortgage lender will add the principle back into your payment and adjust the interest rate. When this happens the monthly payment amount will go up significantly.

    Interest-Only Basics

    Interest-only mortgages are interest-only for a period of time specified in the loan contract, usually five years. At the end of the interest-only period the mortgage reverts to an adjustable ra

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