house payoff
have enough cash (approx 100,000) to pay off house, its all our savings
4 kids, college starts this year, mortage finished 2030
do i pay off house or keep as rainy day fund, its in a high interest savings account. one income family. $2,000month payment
Terry Says
What is your mortgage rate?? If it’s below 5%, then wait to pay it off.
But your home equity is not counted in the FAFSA form, although your savings accounts are.
So if you are planning to file for financial aid, you might want to consider paying off your loan. On the other hand, with four kids, it’s always wise to have liquidity!!
