Is it possible to pay just the interest on a mortgage without having to refinance? If so how do I go

fixed rate mortgage

Is it possible to pay just the interest on a mortgage without having to refinance? If so how do I go about it.

If you鈥檝e been good to your bank, or bad to them call and ask them to roll over your loan to terms more beneficial to both of you. By doing this you save $$$ from loan cost.

Example: If you鈥檝e been a great customer they don鈥檛 want to lose you.

If you鈥檙e in trouble with making your payments they may not want your property as bad as you do, so they will renegotiate with you to keep you in it until things get better.

Do stay away from being on 鈥渋nterest only鈥?or 鈥渟ub prime鈥?rate loans if at all possible, and if needs be than as short as possible.

PIRATES didn鈥檛 go out of business, they just went into banking.

When you鈥檙e paying interest you鈥檙e losing the race, and carrying the other guys luggage.

Is it possible to pay just the interest on a mortgage without having to refinance? If so how do I go about it.

It is not possible to make an interest only payment if your loan calls for principle and interest. The only way to change the payment is to refinance. If you make less then your regular scheduled payment your loan will go into default.