Why the 15 year can hurt? Get a 30 year fixed, and you can always pay it faster. You can never slow the 15 year fixed.
Well if you lose your job. You will lose your home. Cash is king. Until you own the house 100% it can be foreclosed. So then keep mortgage extra payments so if you are unemployed for 2-3 years then you can pay it off and not worry. So how is prepaying a mortgage over keeping the cash smart?
Read wastrelshow.blogspot.com and her husband was "unemployed" for 3 years from being a high up executive. So she says it can happen. And apparently they almost lost their home.
So if they had kept more cash they could make payments for years. So classic example of his advice of hurting someone. By they way she lives completely debt free now, after working hard to get back out of the tailspin of not having a job for so long.
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