In article , "Kim W5TIT"
writes:

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
paidoff (barring any advance payments). Huh?

73 de Jim, N2EY

snicker Well, believe it or not, that is what we're going for. We
thought about the 15-year but what we decided is we'd rather double/triple
payments at our own control...just for the very reason of potential job
loss.

Get yerself an amortization printout and notice how little you pay off the
principal each month on a 30 year. Which means if you can come up with just
that much extra each month, you can take a month off for each month - or more.
And as you say, if you run into trouble you just don't put in the extra for a
while.

There's also a completely opposite philosophy that some folks use. They figure
it's *better* to *not* pay off the mortgage any faster than you have to,
because the interest is deductible if you itemize, and the lowest rate the
average person can get is for a first mortgage of their primary residence.
Instead, they say, pay off all your other debt or don't get into it in the
first place.

I need to send you an email on another, personal note... I'll do it soon,
remind me if I don't!

Consider yourself reminded!

73 es GL in the new place de Jim, N2EY