Posted by Ultradog MN on March 08, 2014 at 08:03:51 from (174.20.239.172):
In Reply to: paying off mortgage posted by austin carpenter on March 08, 2014 at 06:18:21:
Thanks for asking this Austin. My new wife and I have been asking similar questions here. I hope you don't mind if I horn in a little on your thread. Fellas, The deal here is we're thinking about selling her townhome and taking the equity from that to pay down some of my debt. It wouldn't pay off everything but it would put us in a position to be debt free in about 5 or 6 years. Some folks say we should rent her place and not sell it. Renting would give us around $500/mo above and beyond her mortgage, homeowners assn fees, etc. But to my way of thinking, paying down my debt would give us at least $500/mo in savings on interest and reduce our liability. We're kinda leaning towards selling but not real sure what to do.
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