On Fri 01 Aug 2008 09:42:45p, Steve Pope told us...

> Wayne Boatwright > wrote:
>
>>That's for sure. When we were planning on buying our present home nearly
>>two years ago, we were told by the lender that we qualified for more than
>>double the amount that we felt we could reasonably afford. We went with
>>the amount we felt comfortable with, and insisted on a 30 fixed rate
>>mortgage. Doing anything else would have been foolish and would have put
>>us at the very risk that many people are facing now. We have refi'd once
>>since then, and are planning to do so in the near future as rates have
>>continued to drop in our area.
>
> That's very sensible. You might also want to look at the 15
> year fixed. Depending on market conditions, it can be a better
> bargain.
>
> Steve
>

It could be, but I might not be able to afford the payments at 15 year
fixed. I'll certainly raise the question.

--
Wayne Boatwright
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Friday, 08(VIII)/01(I)/08(MMVIII)
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When the going gets weird, the weird
turn pro.
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