
I always felt sorry for people in their 60s, 70s, and even 80s having to make mortgage payments. To see someone living on social security and still making $1,500 per month house payments is not an ideal situation to be in. This often happens when a baby boomer pockets part of the equity received in selling a home and then getting another 30-year mortgage. Next thing you know is that you are 60 and have 25 years left to pay on your mortgage. Read more