Interest-only loans can work if property values keep rising and you're planning to resell in the short-term. Trouble is, not only did property values not keep rising, but some idiots also seem to have used these loans to purchase their primary residence and worry about paying for it later. Mortgage idiocy indeed.

For me, buying and paying off my house was probably the best investment I ever made. Real estate can indeed be a great investment, but it has to be done right.

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2004 VW Jetta TDI (manual)

Past MB's: '96 E300D, '83 240D, '82 300D, '87 300D, '87 420SEL