I am not new here, though I keep having problems logging in, so I had to create a new account. Some of you may remember my story: I bought my house in February from a relative who gave me $100K in equity so that I had a 20 percent down payment and don’t have to pay mortgage insurance. I have a 30/yr fixed rate at 6.25, but the first 10 years are interest only. That’s all I can afford right now, but I expect a substantial inheritance within those 10 years. I am 50; I’m 15 years away from retirement. I love this house and will die in this house. I’m only suggesting, as some of you have, that every situation is different. I have been constantly reminded by a colleague, “Don’t put faith in an inheritance.” I’m not. Plan B is that my kid in med school will take over the payments in 2017, that he’ll move in with his future wife, and I will be assured of having a place to live.
