To: BenLurkin
If you pay off your mortgage it is going to be easier to keep your home. Not really. If your mortgage was $200,000, and you kept that amount of money in liquid assets, you could always use it to make mortgage and property tax payments. If you had no money and no mortgage, you could lose the house by not paying property taxes. Cash is king!
To: AmericaUnited
To: AmericaUnited
Not really. If your mortgage was $200,000, and you kept that amount of money in liquid assets, you could always use it to make mortgage and property tax payments. If you had no money and no mortgage, you could lose the house by not paying property taxes. Cash is king!
Well, OK, that's simple: you wait until you have $220k in assets then pay it off. This is assuming, of course, that you have no other income.
15 posted on
06/27/2007 6:57:54 AM PDT by
JamesP81
(Romans 10:9)
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