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Reply to "Pay off home mortgage or pay off investment property?"
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[quote=Anonymous]I think it depends on our interest rates. I would be more inclined to pay for the higher interest rate. However, if the interest rates for both are pretty low, I would seriously think about investing the $350k. This will be liquid cash that you can use when needed. When you pay off one of the properties, you are locking the money to it. The only way to get it would be to sell or refinance. Neither of which is fast. We ended up paying off our investment property because it had a much higher interest rate and it was much lower in the mortgage. One was for 6.5% and the other was 2.75%. Now I am not prepaying my mortgage because I would rather use the money to invest in mutual funds. [/quote]
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