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I paid cash for my home in 2005, but took an equity loan to start the business 18 months later. The manager at the bank was sweet talking the interst only loans. How I could ride the wave of value increases. Then sell, and still walk away with money. I took the fixed. Obviously she couldn't read the future could she!
If I had taken the interest only whose fault would that be? I think it is buyer beware once again.
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20mph is not fast, unless you are doing it in a 3/2, 1000sq. ft. house on 10 ft. waves!
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