The old adage says Haste makes Waste, and caution is your only friend. How true such a proverb is when it comes to the world of personal financial planning. Caution means that you stop and look at all options before making any decisions in order to ensure that more often than not the result is a sound decision with a positive outcome. This step is almost mandatory when dealing with issues of financial planning, 401(k)s, and future money needs like retirement funds, etc. Poor financial decisions can result in catastrophic consequences like late payment, a deteriorating credit rating and even bankruptcy.
When investing in real estate for short term purchases, one of the options you may be considering is an interest only mortgage. These can be a tricky investment and so you may want to consult with your financial advisor, before entering into a mortgage of this type. And, since it really cant be considered a piece of your investment portfolio, a will more than likely be part of a business venture or investment. This is where the looking at all the options really comes into play. An interest only mortgage is not a good financing option when you are looking at...
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