Atypical mortgages: smaller payments, greater uncertainty - 2004-03-20
Chris Rousemiller's salary hasn't kept up with home prices in the Twin Cities, not to mention providing for his growing family. Yet that didn't stop Rousemiller and his wife, Katie, from buying a significantly larger house with a smaller mortgage payment.
Seem impossible? That's what the Rousemillers thought, too. But by taking out an interest-only mortgage, they were able to trade up to a larger house without putting a drain on their monthly expenses.
Read the full story at Star Tribune