| English term or phrase: interest-only loans | With interest rates going up, and prices likely to go down, should those of us with big home-equity loans worry?
I am very scared about all those home-equity lines of credit. Everyone saw easy money and started to use their homes like ATMs. Fixed interest rates are going up, but they are still relatively low, so I'd recommend that people get out of home-equity loans and into a fixed-interest-rate loan as soon as possible, for peace of mind. The interest-only loans or an ARM [adjustable-rate mortgage] with optional payment are also worrying. With those, you could wind up owing more on the house than it's worth. |
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The translation workplace 
peer agreement (net): +2
