If you take a look at your mortgage options, you might find an option for a 40-year mortgage. Now, most lenders do not offer this as an option, but if you find yourself struggling to keep up with your mortgage payments, the lender may offer to restructure your loan into a 40-year term. Is this a smart move, and what do you need to know about this choice?
What To Know About a 40-Year Mortgage
If you take a look at your mortgage options, you might find an option for a 40-year mortgage. Now, most lenders do not offer this as an option, but if you find yourself struggling to keep up with your mortgage payments, the lender may offer to restructure your loan into a 40-year term. Is this a smart move, and what do you need to know about this choice?
