Interest Only Loans: Greater Savings or a New Pair of Shoes?

Interest Only Loans: Greater Savings or a New Pair of Shoes?: "Over the past three years, interest-only loans have surged from under 1% to over 30% of all new home loan originations in some areas, leading many consumers to believe that interest-only financing is a great program for everyone.

However, consumers should understand that interest-only financing was originally created for the wealthy and with very good reason. You see, the wealthy understood that they could put the money saved from monthly payment obligations to work for higher rates of return in other financial instruments. These consumers were not looking to save a few hundred dollars to afford a home � many were simply taking advantage of a loan program that combined the tax advantages of a mortgage with increased cash flow of liquid funds for investing!"
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