Liquidate portfolio to pay loan?

[shami]

We are a couple with income range in 90k-100k. We have a house with loan amt of 90k and we had taken a second loan for 90k over our home equity. Our monthly mortgage payments for both loans comes to around $1700.
We have around 30k in our portfolio through Merril Lynch. Does it make sense to liquidate our Merril Acct and pay that towards the second loan. By doing that we save around $200 per month. Or is it better not to touch the Merril acct for atleast 3 years till the market is normal ?

[Broken Arrow]

Is the Merril Lynch account taxable or tax-deferred? What was the original goal of this money, and what is it invested in? Also, what is the interest rates of your two mortgages?

[jIM_Ohio]

NO this is a market to be investing more, not reducing debt. You want liquidity before cash flow.

I make about what you do and my mortgage payment is much higher (including taxes and insurance).

[shami]

The ML account is taxable. Also my first home loan is 5.5% and the second is 6.2%
We had originally opened this ML acct cos we just had this cash in our savings acct. Its been more than a year and half since opening this ML acct.

[Broken Arrow]

Hmm, yeah, your situation isn't that bad at all. I agree with Jim here.

Have you thought about refinancing your home loans? They're quite reasonable as it is, but considering that we just had another 0.5% rate cut, maybe you can get something better?