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Have you been looking into the prospect of buying a home? If you have Justin Morrow USA Jersey , you may have heard about interest only mortgage loans and may be wondering if getting an interest only loan is the right option for you. What exactly are interest only mortgage loans? As the name implies, this type of mortgage is set up so that the borrower (you) pays only on the interest of the loan rather than applying part of the payment to interest and part to principal. Of course, this is not done for the entire life of the loan. When the mortgage is set up, the interest only payment is set up for a set number of years only.

Once that set number of years is up, the borrower "trades in" his interest only mortgage loan for a more traditional one in which he begins to pay down the principal balance as well. Typically Juan Agudelo USA Jersey , interest only mortgage loans are set up with payments being applied to interest only for the first ten years, and then the loan is changed.

The reason that many folks have been interested in interest only mortgage loans is that they allow the borrower to have a much lower payment for those first ten years. Since you are not paying any principal, the resulting payment is lower than it would be with more conventional financing. If you are buying the house as a home and anticipate having an increased income as time goes on, you may be able to qualify for the interest only mortgage loan because of this lower payment that reduces your debt-to-income ratio. If you are an investor, the interest only mortgage loans allow you to keep more cash flow to make home improvements in anticipation of selling or just to keep more of your money in your pocket if you are interested in selling the property relatively quickly.

There are disadvantages to interest only mortgage loans Jozy Altidore USA Jersey , as well, however. The major disadvantage is that it is more risky to the borrower. With more traditional financing, you are building equity in your house right from the very start, albeit not a lot at first, as even with traditional loans Jorge Villafana USA Jersey , the majority of your payments go toward interest in the beginning. With interest only mortgage loans, however, you are building absolutely no equity. Equity comes from paying down the principal, and since you are not paying any principal, you are not building any equity.

What is the problem with not building any equity? Well Jordan Morris USA Jersey , you are running the risk of not being able to afford the higher payments when the interest only years come to a close, as these payments will likely be higher than they would have been with a different loan. So, if your career does not bring in the kind of money you expected, you may find yourself unable to meet the payment. Also, you may be unable to sell the house when you are ready to sell if that particular period of time is a buyer's market. Too John Brooks USA Jersey , you will be unable to get a home equity loan (refinance) because refinancing is based on the equity in your home, and with interest only mortgage loans, you build no equity.
Are you searching for a job? Here are some tips on how you can use journaling in that pursuit.


It is important to know what we are looking for in a position and company. Normally, we can write a long list of stuff we don't want, but what do we want? We hear all the time from career coaches and professional development gurus that we need to define our ideal job. But golly gee Joe Corona USA Jersey , getting past the mindset that we deserve our ideal job and that the ideal job is really out there, is something else. Then after we weed through that muck, we need to write down the characteristics of what we "do" want.


All this is enough to make anyone want to stay in bed with the covers over their head. With the lengthy list of all that needs done, and in what priority, it is perfectly understandable why people stay in a job they don't like. The overwhelm of everything is daunting.


Job hunting is a chore whether it's in an employee-focused market or an employer-focused market. Of course Jesse Gonzalez USA Jersey , it's easier when the job market has more positions then lookers but that hasn't occurred in a number of years now. And the prediction is not in favor of it changing any time soon.


Career professionals tell us that we should be preparing for our next position the same day we start any new position. Yes, this can be mighty difficult, especially when all the butterflies are still unaligned and you are still trying to figure out where to find the rest rooms and lunch room. If you mentioned all this to your friends they would think you are crazy and that you should be satisfied that you just have a job. If this happens to be you -- you are in a new job and still feeling lucky to have that one -- it's the prime opportunity to pick up your journal and begin defining your next move.


If you are job hunting and going through the interviewing process, use journaling to practice interviewing dialogue. Many of the interviewing books available provide typical questions to get your started. Find the questions and practice various responses. Do this 10 to 15 minutes a day and you will be an expert interviewee fairly quickly.


If you are going on an interview and you are nervous, write about your apprehension. The mental expression will also calm your nerves. If you can Gyasi Zardes USA Jersey , arrive early, sit in the car or the lobby and record your feelings before heading up to the interview.


During the interview ask if you can take notes and record the questions. After the interview record the questions in your journal. After the nerves have calmed, practice a variety of different responses. Continue practicing until you feel comfortable with your answer. It is important to continue practicing with these questions several days later when you have a different perspective on the interview. During this process, the journaling will help you expand language skills, communication skills Graham Zusi USA Jersey , and cognitive skills.


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