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Jack M. Guttentag is Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania. More

Recent Articles

"Buy One, Get One Free?" There Is No Such Thing!

This article argues that offering two items for the price of one instead of cutting the price of one in half may increase sales in the short run but will be a loser in the long run. Read Article

Mortgage Interest Rate Fundamentals

This article explains what a mortgage interest rate is, and how it is related to other features of a mortgage loan transaction. Read Article

HECM Reverse Mortgages: A Strategy For Seniors

This article describes a simple strategy seniors can use to find their best HECM draw options using my HECM calculator. Read Article

How Do You Know Whether Mortgage Refinancing Pays?

Borrowers are advised to assess the merits of a refinance using one of my calculators, because the popular method of calculating a break-even period is subject to serious error. Read Article

Do Large Principal Payments Reduce Monthly Payments?

Many borrowers would like a mortgage on which the monthly payment would drop following a large payment to principal, but whether that happens or not depends on the type of mortgage they have. Read Article

Do HECMs Work For Owners of Expensive Homes?

If the owners of pricey homes can make good use of the funds available on a HECM, there is no reason not to because they retain their excess equity. Read Article

Home Buyers Lose a Useful Mortgage Option to Overzealous Regulation

This article laments the loss of prepayment penalties, which can be a useful option for mortgage borrowers with long time horizons. Read Article

How to Pay Off a 30-Year Mortgage in 15 Years -- Without Being Scammed

This article shows how to develop an extra payment plan that will shorten the term of a 30-year loan to 15 years, more or less. Read Article

Is Making Extra Mortgage Payments Better Than Refinancing?

This article explains how the refinance and the extra payment decisions are related, and how to deal with situations where both are live options. Read Article