I’d rather owe 250000 on a place worth 800000 than own a 250000 place outright. I’d be prouder to have the debt. A free and clear deed would not bolster my pride.
i’d also rather ahve a super cheap monthly payment ona bitching place, than a free and clear dump.[/quote]
This surprises me. I’ve always thought you were debt-averse and financially conservative to an extreme.
Nonetheless, you’ll probably be living in your paid-off house for a good decade or more. You’d be surprised how many people think they’re going to die early, but live well beyond average life expectancy (and many of them are totally unprepared for it financially).[/quote]
Have to agree, CAR. Even though it’s all temporary, it’s still wise, and does make life far more enjoyable to be financially solvent for as long as each of are here.
Also nice to be able to pass things along to the family, so they can enjoy their lives as well.
