50 year mortgages

[cbmeeks]

Re: 50 year mortgages

If having an interest only mortgage allowed you to invest more of your money every month, would you really care if you didn't own your house and you were otherwise filthy, stinking rich ?

I can promise you that if I ever become rich I WILL own my house and NOT have a mortgage.

No mortgage payment will help build wealth faster than a few hundred savings per month.

[Crystallas]

Re: 50 year mortgages

forclosure on year 49! OUCH!

I imagine that some of these banks allow you to pay off early without penalty.

[disneysteve]

Re: 50 year mortgages

Some banks are offering 50 year mortgages on homes. What do you think?

If the only way you can get the house you are looking at is a 50-year mortgage, you can't afford it.