A local mortgage broker called me the other day and asked if I was interested in hearing more about 40 year mortgages.  Of course, I already knew about them, but didn't think they made a lot of sense for buyers, even if it made high-priced housing more affordable for cash-strapped buyers.  But he said that he'd written a number of them lately, and they could help buyers buy a home who otherwise couldn't afford to.

So when today's article from Broderick Perkins, writer for Realty Times, appeared in my inbox, I took another look.  I still think they're not a panacea for buying homes in the 21st century, but there are times when certain homebuyers might take a look to see if the longer-term mortgage might not be a good match for their particular circumstances.

Take a look at today's article in Realty Times.