Quote:
Originally Posted by perrjojo
Let’s assume I pay off my bond...sell my home for 315,000 because my bond was 15,000. You do not pay your bond and live in your home for 3 years. You ask 300,000 for an equivalent home. I still pay approximately the same 315,000 for both homes because I am assuming your bond loan and the principal on the bond is not much in the first years. It’s really pay me now or pay me latter. Basically I am paying the same price for the home minus a small principal reduction on the bond.
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Pay me later with a large interest payout in between.
Living debt free is a real plus, stock market bombing downward does not affect your investment in your home. Most people here are getting a little long in the tooth to wait for a recovery which indicaters say may be nasty this next recession. All depends on your bankroll and tolerance for financial loss.