5 and 30 Mortgage Loans 

The loan packages available to borrowers has expanded like mad in recent years. The 5 and 30 loan is one such package, but a dangerous one if you don't know what you are getting into. The good news is the loan amortizes the payments over 30 years, meaning that you have low month payments. The bad news is you have to pay off the total loan in a lump sum payment after 5 years. This means you have to sell or hope the home has appreciated enough to sell it for a profit. Such deadlines are tough for the unwary.

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