Quote:
Originally Posted by retiredguy123
I agree with not paying off the bond. But, when you pay off a second mortgage, you always get your money back, dollar for dollar. It has no effect on what the buyer pays you for the house. When you pay off the bond, you need to hope that you can sell the house for enough extra money to recover the amount of the bond that you paid off. That is why it makes sense to not pay off the bond.
|
Well said
I also considered the break even point as about 15 years when deciding whether to pay it off or not
- Will I live for another 15 years?
- Will I live in The Villages for another 15 years