The interest only loan that you have available to you today, is the same one that many Americans since the early 20s had available to them and used. So, your grandparents, or there parents perhaps may have looked for a bit of debt relief with the interest only loan themselves.
There were some differences in the loans from that time to now however. Lets take a look at some of those differences. This may help us become better educated so we may more efficiently shop for these loans.
In the 20s the interest only loan was more of a pure product, meaning that they were interest only for the loans life. So, only interest payments and no principal had been paid. This seemed to be a good system until the stock market crashed, and the Great Depression came along. This left a number of lending institutions with a mortgage that was foreclosed, and with no cash. At this point most lenders decided that it would be a better idea to just give out more traditional loans so that equity could be built up. This helped the homeowner have a sort of savings to build wealth in. It helped the bankers as well with their mortgage balances being less outstanding.
The interest only...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
