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Reply to "Mortgage recast vs extra payments"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Unpopular opinion ‼️ 🚨 We are 45, have a child headed off to college next year, another one 3 years behind him and are mortgage free. It is the most liberating feeling for me. When I have a bad day at work I’m like, whatever. I get to finish out the rest of my life without a mortgage. [/quote] If transferring money from your left hand pocket to right hand pocket makes you feel better, good for you. But it does not make sense. Especially for many people who have sub 3% mortgage rates. [/quote] This. We have over $3M and the balance on our mortgage is under $400k at 2.25%. Of course we could pay it off. Just knowing that is peace of mind - we aren’t actually doing it. But we aren’t trading up and starting over either, which seems to be a popular move in people’s late 40’s as well. Who wants to start over at almost 50?[/quote]
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