Reply to If you were to inherit $2 million, would you pay off the remaining $150k of your very low interest mortgage?

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Reply to "If you were to inherit $2 million, would you pay off the remaining $150k of your very low interest mortgage?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes, we didn't inherit and paid off our mortgage. [b] Its freeing[/b].[/quote]

Exactly. [/quote]

If put the amount left on the mortgage in a HYSA that makes 1.25% more than my mortgage, set it on autopay, and forget about it (unless I need he cash), how is that any less freeing?  [/quote]

Because if your mortgage is switched to a different servicer and you don't get the memo, it could go into default while your autopay is merrily humming along.[/quote]

Exactly!  With our last mortgage (over a decade ago), it was sold 6 months after it started and continued to be sold 1-2 times per year after that.  It was a royal pain in the a$$ each time.  And yes, the home owner is the one who gets the late fees if not paid on time, no matter how many times it is sold.  Once our mortgage was such a small portion of our NW, we decided it was just simpler to pay it off and not have to deal with that.

However, I don't recommend paying off a mortgage until you have enough cash flow for 99% of all emergencies.  Once you have that, pay it off, take your mortgage payment and invest it however you desire (CD/Treasuries/MM/Stock market)   But keep a mortgage if you don't have an EF
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