Q&A: My interest only mortgage is due soon, My house is worth 1/2 of the purchase price. Advice?

Posted on Feb 1, 2012 in Mortgage Advice | 1 comment

Question by boat_junkie: My interest only mortgage is due soon, My house is worth 1/2 of the purchase price. Advice? I have an exceptional credit history. I also plan to keep the house in hopes that the value will increase close to where it was when I bought it. But I am open to advice. Best answer: Answer by Spock (rhp)not sure what you mean by “interest only mortgage is due soon”. what’s due? the entire principle amount [balloon payment]? my guess, off hand, if the ending balloon payment is due is that your only refi...