You are not too old to get a CPL etc but you may be too old to get a decent return on your investment. You'll be 40 or so by the time you finish and yes, you'll have approx 20 years of professional flying left but unless you have a separate source of income/savings for your retirement, there's a real risk you'll be poor into your old age.
I am sure you don't want that.
If you could do it debt free and still keep your house, why not, but you're talking about loans, so I would advise caution.
Flying schools are a business. They couldn't care less about what happens to you post training.