However, borrowers
regularly borrow more than they need to purchase their cars and
homes for various reasons — such
as to finance protection products into their
loans or to roll negative equity (or debt from a previous
loan) in to their new
loans.
In the event that you need to take a look at your
home as a source of money for retirement, consider that once you've paid off your
home loan, the cash that you were spending on
regularly scheduled installments can be utilized to finance some of your living and medicinal costs in retirement.