On Fri, 12 Apr 2013 08:35:51 +0100, Orchid Win7 v1 wrote:

> If you rent something, you must pay rent for the rest of your life. If
> you mortgage something, then (hypothetically) you will eventually *own*
> it, and then you don't have to pay any more money.

If you rent something, you don't pay for it "the rest of your life", you 
pay for it until you move somewhere else.

> Sadly, because I've started so late in life, I will never actually pay
> the whole of the mortgage off. And even if I do, I'll still be renting
> the other 70% of the property. But hey, it's all I could afford.

Very few people end up paying off their mortgage these days unless they 
refinance it at least once or twice - it does happen, but usually the way 
it works is you end up selling/moving at least once (at least in the US) 
and get a new mortgage.

You're not unique in this situation. :)

Jim

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