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To: Ancesthntr
A question for any and all takers:

I'm currently sitting on enough cash to pay off my mortgage, and wonder if that is a good move in this current environment? Seems that the market is giving me poor to no returns elsewhere, so why not pay off this debt. BTW it wouldn't make me cash poor to do so.

Thanks for your insights!

77 posted on 12/16/2008 1:00:55 PM PST by catbertz
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To: catbertz

If you don’t mind our asking, what is your interest rate and how many more years does your note run?


79 posted on 12/16/2008 1:02:52 PM PST by NVDave
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To: catbertz

See PM.


104 posted on 12/16/2008 3:47:32 PM PST by Ancesthntr (An ex-citizen of the Frederation dedicated to stopping the Obamination from becoming President)
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To: catbertz
Give it to me.

As Obama says, "Share the wealth."

/sarc>

Cheers!

113 posted on 12/16/2008 6:17:29 PM PST by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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To: catbertz; NVDave

I am in the exact same position as you are except I only have $80k remaining. I am choosing to pay it off. The falling dollars means they are getting less value where I’ll end up with a solid asset. I am also prepaying five years of property taxes.

Strongly consider NVDave’s suggestions especially “would losing the mortgage interest deduction (if you take it) raise your tax bracket or cause you to lose other deductions?”

For that very reason I am making two payments to the mortgage company. 50% this year and 50% in January.


148 posted on 12/18/2008 11:04:46 AM PST by B4Ranch ( Veterans: "There is no expiration date on our oath, to protect America from all enemies, ...")
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