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From: rdr@inuxh.UUCP (Robert Rindfuss)
Newsgroups: net.taxes
Subject: Re: 15 versus 30 Year Mortgages
Message-ID: <406@inuxh.UUCP>
Date: Sat, 15-Mar-86 14:00:14 EST
Article-I.D.: inuxh.406
Posted: Sat Mar 15 14:00:14 1986
Date-Received: Sun, 16-Mar-86 08:58:07 EST
References: <5608@kestrel.UUCP> <129600003@hpcvla.UUCP>
Organization: AT&T Consumer Products, Indianapolis
Lines: 15

> <<<<
> < I prefer the fifteen year note for myself, however, because of the
> < psychological difference.  My wife and I intend to pay at the 15 year
> < rate, and I would rather lose the flexibility and never have either of
> < us tempted to slow down the repayment.  
> 
> Fifteen years is a long time to plan on not having a really major emergency
> or disaster strike. If you have a 30 year loan it may take willpower to
> pay it off at a 15 year rate but you wont have to refinance it if something
> really bad happens.
> 
Worse than that, if the 'disaster' that struct was you losing your job, you
would not be ABLE to refinance it.  

Bob Rindfuss