Thread: Pay Down the Mortgage or Save for Retirement? Which is better in my situation?
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Old 01-25-2006, 11:03 AM
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Default Re: Pay Down the Mortgage or Save for Retirement? Which is better in my situation?
Fern, that is what I have been doing. I took out a big loan to me, of $64,000 to buy a beautiful piece of property. (I put down 20%) Every month, i have paid at least $1000 extra on the property, so that after 12 payments, I owe about $37,000. My interest has gone from $400 a month to $200 a month.
I have had my house paid for since in my early thirties and nothing feels bette than that. (except eating an entire pound of chocolate fudge)
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