Ask Your Finance Question. Finance Experts Answer You ASAP.

(Not a Finance Question?)

Will an interest only mortgage have an adverse effect on my ...

Sent to Finance Experts November 14 2006 at 9:31 AM
   

Will an interest only mortgage have an adverse effect on my credit score because it will not show a declining balance...even if I make all my payments on time?

Customer (name blocked for privacy)
Status:  Closed   Value: $15
Answer
November 14 2006 at 10:40 AM (1 hour and 9 minutes and 4 seconds later)
         
ACCEPTEDCheck Mark

An interest only mortgage will not have an adverse effect on your credit score as long as you are regular in your payment and never late.

Let me know if you have any question. Bonus and Feedback will be highly appreciated!!!

 

renu@yashcon.com

 

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases.

Picture
RD -- Certified Public Accountant (CPA) -- 99% Positive Feedback on 588 Finance Accepts
MBA, CPA
Think you can answer this question?
Login or Become an Expert

Related Answers

 

DISCLAIMER: You acknowledge that any information you may obtain from individuals you contact through use of the JustAnswer service comes from those individuals, not from JustAnswer, and that JustAnswer is not in any way responsible for any of the information these third parties may supply. The site and services are provided "as is" with no warranty and no representations are made regarding the qualification of an Expert. Responses and comments on JustAnswer are for general information and are not intended to substitute for informed professional advice (such as medical, legal, investment or accounting) and do not establish a professional-client relationship. JustAnswer is not intended or designed to address EMERGENCY QUESTIONS which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service.

JustAnswer > Financial Questions and Accounting Help