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RV maker Monaco reports delay in financing package.(Business)(No explanation is given for the delay only a day after the loans were announced): An article from: The Register-Guard (Eugene, OR)
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interest only home loans FAQ
If their loan is an adjustable loan, then their rate is going to rise at the next allowable date, and their payment will go up.
Note that not all adjustable loans follow the same index and a rise in the prime rate doesn't always cause a
Not sure why you're only being offered interest-only. I'd shop around for other mortgage brokers, just to be sure.
An interest-only loan is where you (for a period of time) make only interest payments. You make no payments against principal.
Is it possible that you are assuming that the whole payment is interest, when it is not? Is some of it going to escrow? Have you paid more than the minimum? If some of your payment has gone to principle, your principle balance should be lower. Check
interest only home loans news
CML: Mortgage lending up 10% from a year ago
Gross mortgage lending fell 14 per cent to an estimated £10.5 billion last month, but was 10 per cent higher than in January 2011, according to figures published today.
The Council of Mortgage Lenders said that although a seasonal decline is expected, January was the sixth month in a row of higher year-on-year lending.
Source: MyFinances.co.uk
Bank of Ireland seen on the turn after profit fall
"These results suggest the bank reached a trough in its pre-provision earnings in 2011 and (earnings) are likely to experience improving trends as the bank has exited the more costly ELA borrowing, can look to terminate its own issued bonds programme and maintains a tight focus on costs," Stephen Lyons, credit analyst at Davy Stockbrokers said.
Source: Reuters UK