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Reply to "Should I pay off the house under these circumstances?"
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[quote=Anonymous][quote=Anonymous]Can you swing it at $6k a month? I couldn't. [/quote] That is a key point I'd want to consider. However, they also must look at what their interest rate is. If it's 2.5/3%, they likely would end up paying the same or more if they bought a smaller home. So I would continue paying at this rate, investigate selling/downsizing in a few years, as your kids are in college already. But I would not go very long on a $6K mortgage payment while only making $250K/year. Especially if that 250K is before any taxes are withheld/paid. If that is pretax, your mortgage is 1/3 or more of your take-home. That is high [/quote]
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