Talk of The Villages Florida - View Single Post - The Economy: Maintain a mortgage or pay it off?
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Old 01-16-2008, 04:34 PM
beartrack1
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Default Re: The Economy: Maintain a mortgage or pay it off?

If and when we can finally sell our present home, we will come to TV. Since we bought our present home long ago at a very low price, even in todays lower priced market, we will come out with enough money to buy the home that we want in TV. As I have said in the past, we will be forced by the current market to sell low but, we will then benefit from this market by buying low. After thinking it over and in keeping with this thread, we had decided to pay cash and have no mortgage but, due to the state of the economy, maybe it would be better to invest this money conservatively with our other portfolios and rent for awhile. This will give us a chance to know TV better, to keep an eye on the market and the economy and be in a better position to make a more intelligent choice somewhere down the road. All the while our portfolios will be growing. I really believe that this would be a good time to just sit back and wait and still enjoy all the benefits of living in TV with none of the risk incurred by perhaps buying the wrong house in the wrong place at the wrong time. I have been very impressed with some of the posts on this thread and I would sincerely value your opinions on my thoughts.