• CmdrShepard@lemmy.one
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    7 months ago

    Imagine being 10 or 20 years into your mortgage and suddenly you can’t afford your payments anymore due to a rate increase. You have to sell the house and then try to find another one at the inflated rate and then start back from square one.

    • S_204@lemmy.world
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      7 months ago

      You’d have to be wildly irresponsible to have that happen. Theoretically you’ve paid off well over half of your house after 15 years.