Quote:
Originally Posted by DixieGal
However - and this is the thing I've been getting to - while every second home is in foreclosure, we will never have to worry. Using that inheritance to pay off the mortgage gave us freedom. It might be something to consider with your new money.
|
That would depend on where you live. For me, it would be more prudent to put the money away, and get the required amount out of that account every month to pay the mortgage bills.
If we were to pay off the mortgage, instead of getting money back, we would have to pay money as you pay taxes for property but get a tax reduction for a mortgage
