It doesn’t really matter how big the loan amount is, if you lose your job and economy goes down the tube, you won’t be able to pay your mortgage. [/quote]
Maybe that’s true in your life, but not in mine.
With my current mortgage, I can make it 6 to 12 months after becoming unemployed without evening touching savings. After that, I can make it another 2 years on savings before I start eyeing the 401K.
If I had a huge mortgage like the ones I listed, I would have to cut those numbers from several years down to a matter of months. Quite a difference.
