Have a great day;
CEO & SR Credit & Mortgage Consultant of
Ex-Mortgage Broker of more than 10 years
Paying off a mortgage early invovles many factors. If you are nearing the end of the mortgage and most of the tax deductions for interest are trivial, then pay off the mortgage. If you are in the first few years of a mortgage and your rate is over 4%, then a refinance may be an option.
If your only asset is your home, it would be prudent to invest the money in other investments. It is not wise to place all your money in one asset. Cash could be very important and getting it back out of the home will cost you dollars.
Republic State Mortgage
Senior Mortgage Banker
Look at your Promissory Note http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134