Interest-only mortgages can pack a triple whammy

Interest-only mortgages can pack a triple whammy: South Florida Sun-Sentinel: "In mid-2004 more and more clients began walking into First Maryland Mortgage Financial Services in Columbia, Md., and requesting adjustable, interest-only loans.

They were borrowing hundreds of thousands of dollars in many cases, thanks to soaring home prices, but they wanted to postpone the consequences of their indebtedness as long as possible."
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