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Dear MarketWatch,

I hope you can help me figure this out. I am 69 years old and will turn 70 at the end of the month. I’ve been offered a cash out refinance loan and need to decide whether to take a 15- or 30-year loan. My monthly obligation would obviously be higher for the 15-year loan.

I may not — likely will not — live long enough to pay off either, or even conclude the 11 years remaining on my current mortgage, for that matter. I’m diabetic, let alone other infirmities. The mortgage lender knows my age, but the choice is mine.

Normally I guess one’s heirs would have to deal with it, based on the will, but I don’t have any heirs in my opinion. I’m single, have never been married and have no kids. My mother is deceased, and my father is 97 years old. He lives with a woman, but they chose not to marry.