I stopped by this place over the weekend for the heck of it, since I go by it often. Thought I’d stop and check it out. Salespeople were nowhere around. Went through all three models. Sales people nowhere around still. Picked up some brochure, map of tract and – financing paperwork.
Are you guys ready for this? One of the options listed was a 5 year interest only loan. Must put money down. But can you believe they are still offering this? I wanted to ask more about it, but I couldn’t sit there forever and wait. I tried calling the next day, but no answer (machine).
Gave up. Don’t know if it’s old info and they didn’t update the financing paperwork or if they’re still actually doing 5-yr i/o. That would be really funny. 30-yr fixed was something like 3400 a mo. 5 yr i/o was something like 2500. If I remember right, that included PITI and HOA on both.
I say if I had to check my Ouija board, if they’re really doing 5 yr i/o, I see defaults and foreclosures on the way in the not too distant future.
