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If you're going to live in the house make it your goal to just pay off your mortgage.

The universe of mortgage lending has gotten to the point where there is a place in it for everybody.

I had a couple come in with a negative amortization mortgage on a house that costs way too much relative to their income. They're consuming real estate, not investing in it.

Ignore the annual percentage rate when shopping for a mortgage.

I learned early on what debt means, how vulnerable it makes people, what the security of owning a home means.

Debt certainly isn't always a bad thing. A mortgage can help you afford a home. Student loans can be a necessity in getting a good job. Both are investments worth making, and both come with fairly low interest rates.

The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.

Debt is a mistake between lender and borrower, and both should suffer.

Even the once simple home mortgage now has so many flavors and styles and variations that it is difficult for people to make a decision.

Especially if you're over 40, shortening the term of your loan to pay it off sooner could make you mortgage-free in retirement.