[Pia S]

So 10,12,15 years in you no longer have a mortgage! Then what? Let's say you have a house worth $ 150,000 and no mortgage. What's the benefit of that? You can't go to the bank and ask for some of your money, that would be a loan, and guess what, now you're paying the bank for the privelage of using your own "money". Equity does not put money in your pocket if you need it. It can benefit you if you sell your house I suppose. 30 yr mtg is the way to go, take advantage of interest write off, and spend the rest of the time learning how money realy works. Have we not learned enough about Mortgage "deals" and facinating programs that will "save us thousands of dollars"? Stop being so gullable America.