12-11-2009, 06:35 PM
What joeH said. Resetting the clock back to 30 benefits them in the long run, and costs you, also in the long run. do you *really* want to be paying on your mortgage 30 years from now ?
One of the mistakes we made a decade ago was buying a bigger house with a 30 year mortgage. I'll be making house payments until I'm 75. It was insane/ stupid. Of course, it was *supposed* to be shared with my late father in law, the deal was all agreed upon, and he backed out of it after we closed. So instead of a paid off house, I've got the Forever mortgage. Crap.
One of the mistakes we made a decade ago was buying a bigger house with a 30 year mortgage. I'll be making house payments until I'm 75. It was insane/ stupid. Of course, it was *supposed* to be shared with my late father in law, the deal was all agreed upon, and he backed out of it after we closed. So instead of a paid off house, I've got the Forever mortgage. Crap.