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Reply to "What to do after house is paid off"
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[quote=Anonymous]After my husband died in 2008 I moved with my kids to be closer to family and put a chunk of life insurance proceeds down to buy a house. 30 year mortgage. Due to the market crash, my lender offered a lower rate mortgage for 15 years which I got in 2011. Knowing my income would change once my youngest aged out of SS Survivors' Benefits it seemed like a good deal. My house, currently valued around $850K will be paid off next year and I'm thrilled. Will be reallocated most of my current mortgage payment to prop up my lagging retirement funds.[/quote]
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