I didn't feel comfortable just sharing this link, because this is not something I would recommend doing. Rather, I wanted to call attention to this new plan in which a mortgage truly lives up to it's origin. Mortgage and mortality have the same root word.
The age of the woman in the articled linked below is 48 years old. She just obtained two 30 year loans for a house, as well as borrowing against her 401K for the downpayment and closing costs. Providing all goes well and she is able to maintain her current income until she's 78 years old, she'll own her home. If you are thinking of buying a home, please consider the long term factors and the fact that everything changed, economically, practically overnight just a few years ago.
This just doesn't seem like an opportunity, it seems more like a lifelong bondage.
https://homes.yahoo.com/news/how-one-homeowner-bought-a-home-with-a--1-026-down-payment-011843269.html
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