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Reply to "Mortgage recast vs extra payments"
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[quote=Anonymous]Anyone BTDT or done a lot of delving into this? DH and I have inherited several hundred thousand. DH wants to have cash on hand to be able to walk away from a job if he ever wanted to. I wonder if there is a way to have that optoin plus put some substantial amount towards paying down our mortgage so that we either have a lower monthly payment - hence freeing up cashflow for saving or other priorities; or just speed things up via extra payments so that we don't have a 5k+ monthly mortgage when we are retired. I know that 401k, IRA investments have the potential to generate higher returns than our 3.99% rate, but there is also the peace of mind that comes with lower payments or ending payments altogether. We have/are inheriting about 1/2 of what we owe in total on our mortgage. Thoughts on how to weigh pros and cons? [/quote]
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