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["Lisa K.V. Perry" <lisakvperry AT gmail.com>]

On Sat, Oct 25, 2008 at 10:49 AM, Lynn Wigglesworth
<lynnw1366 AT hotmail.com>wrote:

>
> My biggest problem is that I had to buy out my ex's share of the farm,
> so I acquired a big 30 year mortgage at age 50. I'll need steady (not
> big, but steady) income until I'm 80. Once the kids are grown, I could
> raise enough food for myself and live cheaply, but there's that mortgage...


Lynn, you probably already know this but if you can afford to pay extra to
the principal each month, you will shorten the life of your mortgage.
Perhaps taking in a boarder who pays a couple hundred a month (and perhaps x
hours of labor per month?) might help in this regard.

Look at your mortgage statement to see how much is paid to principal. It's
scary to see how much applies directly to interest, so I don't recommend
doing this often. ;)

http://www.allthingsfrugal.com/gf.prepay.htm

lkvp