Quote:
Originally Posted by RPDaly
Do a lot of retired folks that came down here recently after cashing out elsewhere really need to take out a mortgage? How do you even qualify for one without a job? No mortgage was on the top of my list of things I did not want any longer in life. We purchased a property at a price to accomplish that. Plus take a look at the bonds on the new builds. That is almost a mortgage in it's self and the rates are only climbing.
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we took out a mortgage because we didn't cash out up north. We still have our northern home. We had to show our income stream from our Social Security and our IRAs etc. I think many do sell their "northern" home and have the cash to not take out a mortgage.