Pay Off Mortgages or Invest Cash?
QUESTION:
I moved from calif. and bought a home in Nevada but I took a loan on the home instead
of paying it off.
My question should I pay off the house or invest the money.
With what is coming I am confused on this issue.
TM
ANSWER: If you have a FIXED mortgage, do not pay it off. If it is at an old high rate then you should refinance. Cash will be better served in liquid markets when the time comes, not tied up in a property that you may not be able to sell when banks stop issuing mortgages.
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