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To: RockinRight

1450 a month.

So get a 20k line of credit with the house as collateral while you look for a job.

Even in the worst case scenario, you are saving 1550 a month in mortgage payments while you try to find another job.

It just makes dollars and sense no matter how you slice it. If you can pay cash up front, you’ll likely be able to barter a discount with the seller. That means cash in your pocket today that you would have available to tide you over in the event of job loss.


32 posted on 03/06/2011 12:11:37 PM PST by BenKenobi (Don't expect to build up the weak by pulling down the strong. - Silent Cal)
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To: BenKenobi

Sorry - I meant $1450.

Overall true, I’m just pointing out what some say.

FWIW, I’d do just that - pay off the house but get a line of credit. Which you’d have to do BEFORE you lost the job, since no bank is going to give you a line of credit without a source of income.


35 posted on 03/06/2011 12:16:36 PM PST by RockinRight (I once had my identity stolen. Once they got to know me, they gave it back right away.)
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