Keeping It Real is speaking as a 'frog'--he plans to stay in that particular huse until he croaks. In that case it makes sense to pay off the bond or refinance it to a lesser interest rate.
I usually don't stay in one home very long. So for us, paying off the bond doesn't make sense. If we are still here in seven years (my usual time for a house) and planning to stay, we will pay off or re-fi the bond.
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 Brooklyn, NY; Kingston/Luzerne, PA; Haledon, NJ; Kansas City, MO; Olympia/Lacey, WA, Sanibel
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