Back in September, Mindy and I bought another home to live-in flip. Getting a good deal meant that we'd have to pay cash and close quickly. Here was our plan to come up with $350,000+ and what we'd do after: September 2019: Sell $100,000 in stocks, borrow $200,000 from our HELOC, sell the Acura NSX ($45,000) and use cash savings to fund the home purchase. January 2020: … [Read more...] about A New Mortgage With A Side Of Lucky Market Timing
I bought my last home in 2013. I could have paid cash for it, but instead, took out a mortgage and invested the rest. Today, I tell you how it's worked out. Getting Rich With A Mortgage One of the great debates in the FIRE space is whether you should pay off your mortgage. By not paying off mine, I'm in the minority: Most would say that they like the peace of mind … [Read more...] about Getting Rich With A Mortgage
I had a recent email exchange with a reader about mortgages. Thanks Khunara for inspiring today's question! I'm always yapping how I'll never, ever, ever, EVER pay off my mortgage. I even wrote about it here. I'm having second thoughts though. Here are the details of my mortgage situation: My home is worth about $400,000*. I owe about $110,000 on the loan, so I … [Read more...] about Ask the Readers: Should I pay off my Mortgage?
I'll be the first one to tell you that debt is evil and bad. It will: keep you awake at night with worry possibly hurt your credit score encourage you to call your ex-girlfriend/boyfriend after drinking one too many hit on your husband or wife when you have your back turned All of that is true, but there is one form of debt that I tolerate, mortgage debt. … [Read more...] about Hey you Mr. Debt, stop looking at my Wife’s Butt!
Hi there, Mrs. 1500 today, asking for your thoughts about paying off your mortgage early. I have seen "paying off your mortgage early" vs. "keeping it for the duration" debated numerous times. I think both sides have valid points, but now I want to see what my readers think. And now, let's go check out the answers from last week's question, What do I do about my new … [Read more...] about Ask the Readers: Should you pay off your mortgage?