I called them and they offered me break costs which would be the sum of the interest they would have lossed the for remainder of the 3 years the loan was fixed for. Not worth it….Doesnt look like i can get much help now. Moving back with relatives to save money seems like my only option…

thanks Terry, i hope there's not a huge fee involved in doing this. I'll check with ING tomorrow and see what it costs to change to IO.I'm probably looking at saving $300/month by doing so. What about using the equity on the home to pay the car off though? As it would effectively bring the interest in line with the home loan. I'm surprised you…[Read more]