They say the bank really’ is the owner of your residence
Alternatively, my buddy P. bought a condo within exact same time because the me having a great 20% put and you can a fees mortgage. He’s going to have once the reduced a few % regarding their financial.
- Neither people very own our very own services outright.
- We both would-be repossessed whenever we are not able to generate our mortgage payments.
- They are generated larger monthly installments to help you his bank. We have put a high part of my net gain towards the investments.
You could also believe my personal attract-just home loan are safer, on a month-to-week basis. My monthly payments was down, and they is simpler to meet in a-pinch. Other go out I’m able to and you can am diverting the brand new free dollars into building up my almost every other savings and you will investments, perhaps not spending it. Read More