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Originally Posted by Ghoulish Delight
Outrageous debt from interest-only mortgages.
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I look at interest only mortgages a bit differently. I do not have an interest only, but not a lot of what I pay monthly goes to principle.
If you live in a market with appreciating real estate values, it makes much more sense to have an interest only mortgage than to rent. Your real estate investment continues to grow regardless of whether you are paying down the principle, and you have massive tax benefits.