Link: Realty Times
...I do not favor the 15-year loan. While there are those who praise what they perceive to be the benefits of a 15-year mortgage, in my opinion, such a mortgage rarely makes sense for the average homeowner...
The major advantage, in my opinion, of the 30-year loan is that it gives you the right -- but not the obligation -- to make larger monthly payments. If a better investment comes your way -- or if you need additional money for emergency purposes -- you can resume making the regular (lower) monthly payment and use the extra cash elsewhere...
