Payoff Mortgage
Hi Terry –
I was recently laid off, but I have well over $200K of company stocks. I am considering cashing these stocks and paying off my mortgage of $230K. If I were to keep on paying through the term of the mortgage, I would end up paying $116K in interest.
Do you think this is a good move?
Terry Says
Please write back and tell me what your mortgage rate is!!!
And, also check with your accountant and ask what kind of gain you would have if you sold the stock, and what tax bracket it would move you into.
