



Can significant increases in property taxes strain a homeowner's budget, even with lower initial mortgage payments?
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what is an interest only mortgage Informational
- Does the borrower pay down the principal during the interest-only period?
- Are interest-only options typically available for chattel mortgages? What are the potential risks of using an interest-only mortgage to finance a property with environmental contamination or hazardous materials?
- How does the calculus change when interest rates are high or rising?
- What are the implications of a variable interest rate on an interest-only mortgage? How do lenders assess eligibility for an interest-only mortgage?
- Are there equivalent interest-free mortgage products available? What are the potential risks of using an interest-only mortgage to finance a property that is subject to rent control or other tenant protection laws?
- How should borrowers weigh the potential returns of these alternative investments against the risks and costs of the mortgage?
- How can buyers assess the risks associated with litigation?
- How can borrowers ensure they can afford the total cost of ownership?
- What are the disclosure requirements for properties in disaster-prone areas? How do interest-only mortgages compare to land contracts or installment sales agreements for purchasing property?
- What are the potential impacts of a tightening credit market on borrowers with or seeking interest-only mortgages?
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