Quote:
Originally Posted by Dantilla
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If your house was paid off, would you borrow against it to buy this rental?
If not, I would lean towards selling.
Even though today's interest rates are at historical lows, life without a mortgage payment is really good.
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No, I would not. Good point.
But for these two mortgages, I am debt free and have been for some time. I have enough liquid assets to solve any minor problem like a transmission or even a whole car. Just mortgages and utilities. Water/sewer, electricity/gas, garbage, internet/phones.
Plus....getting rid of mortgages and owning my home outright would likely make the think more seriously about retirement. I should be thinking more seriously about that. I should have one foot in retirement and the other foot on a banana peel, as they say.