[lbo-talk] Interest-only loans run amok :-)

[Michael Perelman]

At the gym today, some of the people were talking about getting interest only loans.  
One delivers beer and is worried about losing his job.  It sounds like they got a 
marvelous sales job.  They were told that when these three-year loans were complete 
there was no need to worry because the bank continues to develop improved credit 
packages.  This assurance trumped any questions that I had.

-- 
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu