2006-07-29 01:10:00 · 2 answers · asked by glenda 1 in Business & Finance ➔ Renting & Real Estate
Not without a good reason. I don't understand people who are getting by just fine and take out a loan. I love doing loans, and my pocketbook loves doing loans, but if you're doing fine without the loan, why do you want it.
2006-07-29 16:06:31 · answer #1 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
Maybe some or most, but not all.
One may take on new loans, but possibly for shorter terms. I've know some in their early-mid 60s who have built or financed a home.
Many do not want to draw from savings or investments. Sometimes, the interest rate on a loan may be offset by interest on savngs or investments, thereby making the loan interest very low by way of the difference. One has to decide that on an individual basis. The risk to a lender is usually low because the borrower has ample assets and a steady, fixed income.
2006-07-29 08:20:47 · answer #2 · answered by ed 7 · 0⤊ 0⤋