I can't believe American's pay 7% on a mortgage. Whilst it's expensive living in France I'm grateful the mortgage rates are low. We pay about 1.5% on a 15 year mortgage.

In fact our mortgage is our retirement fund. We bought a fix-a-upper in the french alps (a holiday resort) we will live in part of it and rent out part when we have finished renovating. That will pay off our mortgage and some.