How to protect yourself in this economyAZ Central.com, AZ -8 minutes agoIf you're close to or in retirement, paying off your home may make sense, as you likely no longer would itemize deductions (for mortgage interest). ... The mortgage loan itself is made by a bank, a savings and loan association, a mortgage company, a credit union, or any other lender. For it to become an FHA mortgage loan, the lender would have to be approved by the Federal Housing Administration.
