Speaking of crazy…what about interest-only loans?
They can be a great product for anyone except a spendthrift (someone who has holes in their pockets). If you need to use the interest-only product to afford a certain house, and your income is not likely to increase substantially in the next few years, then be careful. If you’re a diligent saver and will invest the difference, then you’re simply redirecting your principal into a different “account.” It can be a great financial tool.
