Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Refinance or pay off mortgage?
Old 01-21-2009, 08:22 PM   #1
Confused about dryer sheets
Join Date: May 2008
Posts: 4
Refinance or pay off mortgage?

I currently have a $260,000 mortgage at 6.75%. I was thinking about refinancing at 4.875%. But then again, I have sold some mutual funds lately and thought maybe I could use that money to just pay off the mortgage. By the way, I FIRE'd 4 years ago at 50. What would you do?
RetiredWW is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-21-2009, 08:38 PM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 48,309
Originally Posted by RetiredWW View Post
What would you do?
Toss a coin....
Numbers is hard

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-21-2009, 08:52 PM   #3
Moderator Emeritus
Nords's Avatar
Join Date: Dec 2002
Location: Oahu
Posts: 26,804
Welcome to the board, WW.
Originally Posted by RetiredWW View Post
What would you do?
First I'd read the dozen or so representative threads which have already beaten this topic to death in a number of innovative ways:

And then for the absolute latest on interest rates, I'd do a search for threads using the keyword "mortgage" within the last month or two.

Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on "The Military Guide to Financial Independence and Retirement."

I don't spend much time here— please send a PM.
Nords is offline   Reply With Quote
Old 01-21-2009, 10:12 PM   #4
Thinks s/he gets paid by the post
Texarkandy's Avatar
Join Date: Feb 2008
Posts: 1,281
For me (with a 4.5% fixed and anticipating ER) the question is whether to:

Refinance Sell or pay off the mortgage

We were planning to sell & downsize with our home equity this year - but in the current real estate market, or should I say lack of a market (and the resultant loss of equity) ..... - I'm not so sure? We had approx 3/4 equity in our home - looks like might be 2/3 now.

(We had planned to relocate 180 miles away upon ER also.)
Retired 2009!
Texarkandy is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Mortgage refinance closing costs? scooter260 Other topics 6 12-17-2008 06:34 AM
Which Mortgage to pay off? jimnjana FIRE and Money 13 05-29-2008 06:25 AM
Trying to refinance mortgage with PenFed ExtinctBird Other topics 9 04-07-2008 03:56 PM
pay off the rental mortgage or refinance and invest the difference? WM FIRE and Money 19 02-12-2007 06:32 PM
Pay of mortgage ? Chris24 FIRE and Money 29 06-19-2005 12:57 PM

» Quick Links

All times are GMT -6. The time now is 12:29 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.