Q: I will soon make our final mortgage payment. My wife will retire in two years and I will work to age 67. We are both 60 today. Because I don’t get a pension I really have been looking forward to this final payment. We bought the house 25 years ago, but I shortened the term of the loan by refinancing to a 15-year loan in 2003. Are we doing well to have the mortgage paid off by age 60?
A new trend has begun to emerge. With home prices skyrocketing in the starter home category, many first-time homebuyers are skipping the traditional starter homes and moving right into their dream homes.