What does it really mean to have a mortgage in today’s real estate climate? Is it a “necessary evil”? Dean Hartman reported on the KCM blog that most of us were conditioned to think we should:
- Make a big down payment
- Obtain a fixed-rate-mortgage; 15 years if you can afford it
- Make additional principal payments whenever possible
- Pay off your loan as quickly as you can
He claims that “mortgage burning parties” may be a thing of the past. You might find the article interesting.
http://kcmblog.com/2011/03/31/mortgages-is-what-you-believe-actually-true/
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