To: rabscuttle385
If you have balances at low, fixed rates below 8 percent, obviously, be prepared to pay them off at any time, but otherwise, it's stupid from a financial standpoint to pay them off just because you can. You are better off allocating the funds towards more productive uses.
that's why i laugh at people that say things like "if i ever win the lotto, fist thing i'll do is pay off my house"
why? maybe pay it down partway, get a low interest rate mortgage and invest the money. i'd gladly continue to pay 6% on money if i'm using the money to make 10%.
60 posted on
06/13/2008 11:29:33 AM PDT by
absolootezer0
( Detroit: we're so bad, even our mayor is a criminal)
To: absolootezer0
i'd gladly continue to pay 6% on money if i'm using the money to make 10%. I can understand the rationale there. But I'd rather not be paying a mortgage and have all that money I would be paying out to it available to me as quickly as possible.
61 posted on
06/13/2008 11:31:54 AM PDT by
EarthBound
(Ex Deo,gratia. Ex astris,scientia (Who the hell do I vote for now?))
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