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You were smart enough to pursue an investment property, you should have been smart enough not to let them lie on your loan app if that was the case.djm4, you bought a property in the real estate MARKET.

Make sure you were straight up on your loan app.

You then made the choice to use the LOC IO with a ARM?

I'm quite familiar with both apps, and I was curious about what other features you were talking about.It isn't doing everything I would like...

You say its 6% down, 7% interest amortized for 20 years or 9%/7%IO.

With the prevailance of 105% - 125% IOs and Cash Outs I think the jist of her question is right.

I ALSO HAVE A PP PENALTY THAT EXPIRES 11/21/05 AND WOULD PAY TAXES ON PROFITS IF I SOLD BEFORE THAT,THE 2 YEAR ANNIVERSARY.BRIDGE LOAN,SECOND MORTGAGE...?

However whether or not IO is good for you depends entirely on what your plans are for the property.

Too many people have used IO loans to buy more house than they can afford and so when they get into financial trouble down the road and maybe try to refinance their way out of it, they find they don't have enough equity to do so.