EBK PERSONAL FINANCE
EBK PERSONAL FINANCE
8th Edition
ISBN: 8220106777794
Author: KEOWN
Publisher: PEARSON
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Chapter 8, Problem 9DC2
Summary Introduction

To discuss:

Type of mortgage suitable for S and whether he considers interest only mortgage or not.

Introduction:

Interest only mortgage is a type of mortgage in which borrower only pay interest during the lifetime of the loan and at the end of the loan, either one pays full principal money or refinance his loan again and one may also start paying his monthly installment including interest and principal amount.

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