Gendesic <rvetruba[at]hotmail.com> wrote:

- quote -

I might trash it if the client had no need to borrow money
in the first place.

If that is NOT the case, then it would depend on the
SPECIFIC facts and circumstances.

P.S. - Based on unfavorable personal experience, I hate
mortgage bankers with a passion and therefore generally
oppose anything they recommend. I fully disclose this bias
to my clients.

MTW

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Can any CPA's comment on why they might trash an
interest-only loan? I've had some speak highly of them, and
others trash them under all circumstances.

Was it just personal agenda (?) or is there more to it? For
example that borrower was only planning to stay in the house
5 yrs (making a 30Fixed totally unsuitable), so I
recommended a 5/1 IO coupled with a systematic investment of
the principal difference. Total closing was $2k, and they
needed cash flow.

I definitely welcome any CPA/Tax pro feedback.

Thanks for any and all info!
best to all,

r
__________________________________________________
Roger Vetruba (818) 361-8585 ext.1128
Sr. Loan Consultant (800) 720-8177 Toll free

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