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Reply to "Should I pay off the house under these circumstances?"
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[quote=Anonymous][quote=Anonymous]I would leave your mortgage and only sell what you need to cover the shortfall each year.[/quote] This is what we are doing. DH was laid off at 60. Our HHI is now $175K, and our mortgage is $155K at 2.75% 15 yr fixed. The mortgage payment is about $1400 per month. Our mortgage interest last year was $4559. If we have a large medical expense (which we have had in the past, and given our older ages, we may again), we will need the cash. Plus, I am not 100% sure about what will happen with my job now. So, we need the cash to live off of. The interest payment is tiny and doesn't really make much of a difference in our annual expenses.[/quote]
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