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Reply to "If paying off your mortgage is dumb, why do so many rich people do it?"
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[quote=Anonymous][quote=Anonymous][quote] Also in many real estate markets, when there are 5+ bids on every good home, you will never get a home if you insist on a mortgage---the seller is always going to take one of the many cash bids because it simplifies the process---you can close in 2.5 weeks versus 4-6 weeks with a mortgage.[/quote] Yes, but them most people get a mortgage immediately after closing.[/quote] Not true. [/quote]
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