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Real Estate
Reply to "New mortgage at 45?"
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[quote=Anonymous]We're planning to do one because we need to move for various reasons this spring, one being schools (two kids elementary school age). I'll be age 44. With current rates, no way we can do less than a 30-year mortgage. However, I've heard/read that even if we could afford a 15-20 year mortgage, it's a better/safer option to do a 30-year mortgage and just pay extra on it. This way, you're safer if any financial catastrophe occurs, you aren't obligated to make the higher payments if unable. Figure we'll sell and downsize once we're retirement age and kids are out of the house.[/quote]
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