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But with relatively small mortgages, Hill admits he's in a better situation than many.
Focusing in on American homeowners, the researchers find that of those with small mortgages, only 20% live hand to mouth.
Your ability to raise funds quickly and easily: Many people in their 50s will have small mortgages or none at all.
If they choose to downsize, this group are popular with sellers and estate agents alike as they are often cash buyers or only need small mortgages.
Loans with low interest rates and big fees are typically better value if you are borrowing a lot than if you are borrowing a little, as on small mortgages the lower monthly cost will not offset the fee.
Although it comes with a low rate, some borrowers with small mortgages may be better off over the term of the mortgage with a higher rate and lower fee.
Similar(53)
Clegg suggested the man, who said he had a "small" mortgage, could "leverage" his home.
The pool of people who missed that window is relatively small, mortgage lenders say.
She used the proceeds from her Paterson sale to help pay for her new home, and has a small mortgage.
The Justice Department has generally had more success prosecuting small mortgage brokers and borrowers for mortgage fraud than it has had in pursuing major financial institutions.
Some small mortgage servicers would be exempt from a portion of the new rules, to lessen the regulatory burden on small businesses, the bureau said.
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