J-Dawg - sounds like you are not talking an interest only loan. In Australia (and I suppose the US would have the same kind of loan), you can get a loan where your entire pay goes into the loan account, and the account has a visa card/cheque book attached. In essence, your entire pay is going towards lowering the principal - the obvious catch being if you spend too much on the visa/cheque book, you can actually be worse off. This type of loan is great IF you can control your spending. The more you eat into the principal early, the better off you are.
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who hid my keyboard's PANIC button?
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