mortgage early payoff
I have 2.6 years left to pay down home mortgage. Should I pay it off with savings? (Approx $40K) Or should I invest those savings and continue monthly mortgage payments?
Thanks Terry.
Terry Says
That all depends on your financial circumstances and whether you have better alternatives, and/or need the tax deduction for mortgage interest. But most of all it depends on the interest rate on your mortgage. So if the money is sitting in the bank earning almost nothing, and you have plenty of liquidity left, and if you are paying over 4% on your mortgage, by all means, pay it off!
