We are a married couple... both 45 years old, with mortgage questions.... What are the pluses and minuses to consider regarding 40 or 50 year notes versus conventional 30?? Isn't it good to have the interest deduction for as long as possible, even though it means (possibly) not ever paying off the note?
Question re: 40 or 50 mortgages??
Jun 07, 2007
1 Replies
NONE! Run the payments on an amort calculator and you will see very little differance between 30 and 40 yr schedules. Not worth considering on the payee side, if your the lendor they might be worth a look.
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