Where Your Dreams Become Reality
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Poster: Precious Roy
Subject: RE: NRR - Paying off House
Don't pay off the house. No guaranty that money will be there when you sell. A couple of your neighbors could go into foreclosure and your property value could drop like a stone. Keep your money somewhere where you will at least have a good shot at coming out ahead. Your house will not appreciate.
Best move would be to buy now, and fast. If you can afford a 15 year, you can get 3-3.25 right now as long as you do not go jumbo. And with a rate that low, you would be a fool to pay it off in less than 15. Rates bottomed out the past week and are starting to go back up as investors are getting back into equities. Rates will just be really low and not crazy historic low anymore.
More importantly, life is short. Why waste your days living in a crappy neighborhood when you can get out and enjoy life much more in a nicer area? What is the point of working if you don't get to enjoy your hard earned money?
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