"Phil Kane" wrote in message
.net...
On 17 Nov 2003 01:28:48 GMT, N2EY wrote:

Here's another one for ya: I bet neither of us would have any problem
getting a
30 year mortgage, even though we'd be nearly 80 when said mortage was
paid off
(barring any advance payments). Huh?

We got a 30-year mortgage four years ago notwithstanding that I was
retired on a moderate pension, my wife was an independent contract
employee close to retirement age, and both of us would be over 90
when it matured.

Not only that, we refinanced it last year starting a new 30 year
clock.

In reality we rent the place from Fannie May or Freddy Mac, whomever
wound up with the paper..... We know it, they know it.....


But there are advantages. As the owner (even though heavily mortgaged), you
can put up antennas or remodel or whatever without asking the landlord. And
since the interest is tax deductable, you can have a nicer place for the
same money than if it was just a rental.

Dee D. Flint, N8UZE