Published In Hindsight

Ah, NOW the lenders get together and publish a consumer guide on determining if interest-only mortgages and other nontraditional products are for you.

Link to the Fed's press release


Townhouse, anyone?

"The publication stresses the importance of understanding key mortgage loan terms, warns of the risks consumers may face, and urges borrowers to be realistic about whether they can handle future payment increases. If consumers are not comfortable with these risks, the publication suggests that they ask about other mortgage products."

Yeah.

Numerous links to the document available on the Fed PR page.