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Should I Pay it Off ??

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R

Rannan3

Guest
What is the name of your state? CA.


Which is more advantageous, should I pay off the mortage on my home now, or just make the payments ? I am 61, recently widowed, about to start drawing my retirement, and plan to leave the home to be sold and divided between my children. Are there significant advantages to paying it now , money - wise ?
Thanks !
 


abezon

Senior Member
The advantage is you no longer have a mortgage payment, but you still get to take the standard tax deduction. The disadvantage is that you don't have the cash to invest in other ways.
 

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