[MHGinTN]

My objection to mortgage systems is that they front load the interest, which measn that if the market remains at current values, the house does not appreciate you any value though you put tens of thousands into mortgage payments. Until year ten in a thrity year, you’re paying basically all the thirty year interest up front. If you can afford the fifteen year, you still pay most of the interest up front but your payments do reduce the balance due more rapidly than in a thirty year.

[mbynack]

I understand. I have mixed feelings about my mortgage, too. I bought my house seven years ago, made $40,000 in improvements and it's worth less than what I paid for it. My wife may be loosing her job this week and my contract ends in March and we don't have any prospects of new work. I may come to the point where I just don't have the money to make the payments. I feel strongly about upholding my obligations, but if I have to make a choice between the mortgage and food, I'll have to take food.

One thing that I've seen around here is that people get mad when the house goes into foreclosure and trash it. Some people have moved out and left their pets in the house to destroy it and ultimately starve to death.