Posted by vince on January 22, 2007 at 11:07:39:
50 year mortgages are great to lower payments without deferring any interest (like with Option Arms or Hybrid Arms). What state are you in? I can give you some numbers if you like. Email me with some details and I will see what I can do.
50 yr mortgage - Posted by Kevin C
Posted by Kevin C on January 22, 2007 at 02:10:03:
Would anyone suggest a 50 year mortgage for a refi to lower a mortgage payment? I want to rent out my townhome and to get it into rental price range locally I need to lower my mortgage. Thanks
Re: 50 yr mortgage - Posted by Bill Jacobsen
Posted by Bill Jacobsen on January 22, 2007 at 12:54:45:
Review the rates. You probably have an owner/occupied loan now. You will be going to an investment rate plus increasing the time of the loan usually includes a higher interest rate. You are sometimes better off having negative cash flow if you can afford it.
Bill