[Texas Eagle]

Now my oldest kid is ready for college - I have to go ask the bank if I can borrow my own money that is tied up in the house.

But you're house is paid off, right?

[Skywalk]

But what if it isn't?

ANd if you DID pay it off, you spent so long taking extra money you could have been saving and investing and now you've got your house all right.

And not much else. Seems like a shoddy deal, especially when you add in all the maintenance and property taxes you have to pay REGARDLESS of whether you 'own' the property or not.

[Mannaggia l'America]

But you're house is paid off, right?

Yes. Will the college take some shingles or a window or some carpet instead of cash?

[Skywalk]

Yep you own your house all right, just got laid off, your house's value went up and BAM your property taxes went up but instead of having a substantial cash or liquid reserve, ya gots zilch.

And you're worse off than if you took the longer "Oh no I'm a debt serf" approach.