I recently read an article from personal finance guru Dave Ramsey entitled “How The 30-Year Mortgage Robs Your Future.” In this article Ramsey makes several claims about 30-year mortgages, such as they “enabled borrowers to buy more house than they could afford” and they cause people “to give up the opportunity to be a millionaire.” Are theses claims really true?
I say no.
Let’s look at the not-so-obvious, but massively misleading problems with Ramsey’s statements. …. http://piedmontfa.com/2011/05/27/30-year-mortgages-why-dave-ramsey-is-wrong/