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Can Interest Only Loans be Refinanced?
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By Mary Wise

Interest Only Loans

An interest only loan is a loan where the borrower requests a fixed amount of money and the monthly payments consist only on interests on the principal. The principal is not reimbursed to the lender till the end of the loan term. Thus, monthly payments are low but at the end of the loan duration, the principal has to be repaid in full.

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There are variations of this kind of loan where after a certain period of time the interest only installments turn into

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This entry was posted on Tuesday, July 4th, 2006 at 6:15 am and is filed under Payday Loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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