Thread: Mortgage Rates
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Old 12-20-2008, 07:35 PM
Ray Zor
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Join Date: Jun 2001
Posts: 3,069
Default Re: Mortgage Rates

LittleMrs - 12/20/2008 2:21 PM

Ray Zor - to clarify, I'd be waiting until Spring to invest that money anyway. But if you pay off the mtg then you leave yourself without the option of investing. Given the low interest rate, it makes more financial sense to keep the debt. Exactly as Back In Black has said. If you hang onto the cash and find that you don't want to invest you always have the option of early payoff on the note.
Point well taken. Thanks.
My wife's advice as well. Seems that for now we'll pay down our mortgage and refin when rates hit 4-4.25 @ 15yr.
This will be playing it safer than paying off entire mortgage in the event we run across a deal.
Oddly enough, tonight I just spoke to the landlord who owns the property next door to me (2 story duplex, rental).
He has gotten very aggressive on asking price.
We may working out a deal on it very soon and I would need a bit of cash to pay down. If I can get it at the right price, it will be slight pos cashflow as it stays rented constantly.

Thanks again for the opinions...........
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