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Old 02-26-2003, 01:26 PM
Rannan3
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Should I Pay it Off ??

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 !
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Old 02-27-2003, 03:10 PM
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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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