Don't Jump Too Fast For That 15 Year Mortgage

The prospect of owning your home outright in 15 years, instead of 30, is an alluring one. And with the kids' college tuition costs or your retirement looming just over the horizon, saving more by paying down your mortgage faster seems like an even better idea. That's why a third of the holders of 30-year mortgages are choosing 15-year loans when they refinance.

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