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Originally Posted by gldstwmn
You're bascially just deferring interest for 10-15 years, then you have to pay it back.  |
EEK - is the rate better or worse. I mean if it is worse, why not just pay an extra $100 a month on your reg. mtg. and knock both down.
My FAV. BS mtg tool is when people like Ditech and others was the $500 + fee to allow you to pay bimonthly and "save" all that interest you originally were going to pay. I think that is a sham. I mean if you pay an extra 5-10% a month - you will save far more and save the $500 + fee. Or, just pay them bimonthly anyway with one full payment at the beginning so you are never in a 30 day default, if the contract allows that
