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Reply to "Does it make sense to pay off a mortgage if you are underwater?"
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[quote=Anonymous]Woah, woah, woah. First things first. Are you moving (or think you might be moving) in the next 10 years? If no, then don't sink more money than necessary into your house. Second, why are you using Zillow for your valuation. They are notoriously bad at estimating house values in our area. If you really need to know how much your house is worth pay a hundered dollars and have it appraised. But really, you don't need to know the value unless you are planning on moving soon (see the first point). As for which is the better investment (mortgage at 3% or other investment) I'd go with putting that money into a mutual fund of some sort. You should be able to get better than a 3% rate of return in the long term. Again, this is all predicated on whether you are sticking around for a whil or you need to pick up and go. [/quote]
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