Interest Only Mortgage

Definition of a Interest Only Mortgage:
A type of mortgage where the borrower pays only interest for the first five, 10, even 15 years of the loan, thereby lowering your monthly payment by quite a lot. At least initially. Usually combined with another mortgage.

This is a great subject for an article since the claims of the benefits of interest only mortgages are often overblown.
There is a big problem with this type of loan, once you do begin paying principal, you'll have to play catch-up to pay down your debt before your term is up. That means your payments are much higher than they would have been if you'd simple chipped away at the balance of your loan all along.

It should be very easy to write an article on this subject that explains when an interest only mortgage might be a good solution.

Good sections containing the term interest only mortgages are:
Definition and history of interest only mortgages
When you might want to consider an interest only mortgage
Pitfalls of interest only mortgages.

Interest only mortgages are very important in the mortgage business. They can mean the difference in literally thousands of dollars to a seller or buyer. One should learn as much as possible about interest only mortgages in order to make good decisions about finances. When one needs interest only mortgages , you can do your homework and save a bundle.