![]() To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs. An interest-only mortgage is exactly what it sounds like: a home loan that allows borrowers to make interest-only payments for a set amount of time, typically between seven years and 10. These ads are based on your specific account relationships with us. ![]() ![]() In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.Īlso, if you opt out of online behavioral advertising, you may still see ads when you log in to your account, for example through Online Banking or MyMerrill. If you opt out, though, you may still receive generic advertising. Since you are not paying any principal, this can lower your monthly payment. If you prefer that we do not use this information, you may opt out of online behavioral advertising. An Interest Only mortgage only requires monthly interest payments. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. But with a bi-weekly mortgage, you would. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. So if you paid monthly and your monthly mortgage payment was 1,000, then for a year you would make 12 payments of 1,000 each, for a total of 12,000. Relationship-based ads and online behavioral advertising help us do that. We strive to provide you with information about products and services you might find interesting and useful.
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