savings: How To Decrease Your Interest Only Loan Payment - 03/07/16 02:03 AM
You probably remember the interest only loans from years ago. Those loans were most popular in 2005, 2006, and 2007. Most of them had a 10 year interest only period after which the loan started to amortize (include principal).
Here we are 10 years later and people are starting to get the announcements that the payment is changing. The couple I helped this month was going to see an increase of $1000 per month starting May: NOT AFFORDABLE to them, which meant they might lose their home. 
2 years ago it might not have been possible to refinance, but we now see the … (1 comments)