May
25
I inherited a house. Should I pay off the mortgage?
Filed Under free money to pay off debt | 10 Comments
Wife4Life asked:
When I got the house, it had 20 years left to pay off. (It was a 30 year loan.) I have been paying extra money every month for 3 years. (That’s how long I have had it). Every extra penny goes to the house loan including extra savings in my bank every month.
When I got the house, it had 20 years left to pay off. (It was a 30 year loan.) I have been paying extra money every month for 3 years. (That’s how long I have had it). Every extra penny goes to the house loan including extra savings in my bank every month.
In 3 years I have paid off $50,000 off of the principle and owe $33,000 (in principle) left on the loan.