Mortgaging your future

Investment Executive’s Money Planner 2009, Monica Townson

When newlyweds and new homebuyers Mark Cohen and Daniela Ferri went shopping for a mortgage recently, they chose a mortgage with the traditional 25-year amortization period. Although long-term mortgages – think: 40 years – offer low monthly payments, Cohen, 29, and Ferri, 28, were more concerned about the total amount of interest they’ll pay over the life of their mortgage than keeping payments low now.

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