Why would so many people opt for an adjustable rate mortgage when it's so dangerous? Most likely, they just don't understand the risks.
For qualifying seniors, now really is a great time to consider a government-insured reverse mortgage, and here's why: Seniors can get more money out of their homes now then they will when interest rates, now at historic lows, begin to rise again.
Yes, pay off your mortgage even if you get a tax deduction for paying interest. Yes, pay off your mortgage even if the asset is appreciating more than the interest rate you are paying.