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Real Estate
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[quote=Anonymous][quote=Anonymous]Stay put. Definitely. I don't understand 45 year olds taking on massive 30 year mortgages. It just doesn't make financial sense. By that age you should be halfway through a mortgage not starting a 30 year. [/quote] 45 isn't exactly old. If you bought your home 15 or 20 years ago, you likely have equity that you can use as a down payment. That's how people wind up "moving up" into a more roomy house while keeping expenses roughly the same. You can also make extra mortgage payments to pay your home off early. When we bought our bigger house we anticipated having kids in the house (or at least coming home from college for summers and breaks) for the next 10 years or so. As long as you see yourself in the house for a while and really could use the extra space I would consider it. Of course, weigh the pros and cons of your own situation. What works well for some may not work so well for you.[/quote]
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