MIT
You have earned my respect for the wisdom of the statement
“I have little confidence in my ability to sort out all the investment strategy and timing”
If you wanted a new 30 YR loan without taking cash out, it would cut your payments over 50%.
It’s a personal decision as to whether you want a higher payment for 10 years or a lower payment for 30, with access to the extra cash now, and hopefully paying back in cheaper inflated dollars.
A $500 payment 10-20 years from now will probably not seem like much. (It doesn’t even seem like much today) Even a Wal-Mart greeter could afford that payment. 🙂 HLS
