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Robert Nusgart: Banks have no interest in interest-only loans (access required)

Posted: 7:18 pm Thu, October 11, 2012
By Robert Nusgart
Special to the Daily Record

Once upon a time, one of the most popular mortgage products being offered by lenders was the “interest-only” loan. Its popularity was simple to see; a borrower could get into a much more expensive home than he normally could have because he was qualified only on whether he could make the interest-only payment.

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