Mortgage Question

[Coach K]

Would you exhaust half of your savings to pay off the last portion of your house?

For example: You have $50K saved up, but you have $28K remaining on your mortgage?

 

[dwnsouth]

Would you exhaust half of your savings to pay off the last portion of your house?

For example: You have $50K saved up, but you have $28K remaining on your mortgage?

i would look at the interest rate situation. if you pay it off will you save on the amount of interest you would normally be paying?

just like my car. i owe 19k but the interest per month is $24. i can keep my money in my pocket and use it for something else (like a stock that makes more than $24 a month).

never use your money when you can use someone else's.

 

[dotcomdon]

Agreed.

 

[MemphisMan]

Man pay that house off...