jimnjana
Thinks s/he gets paid by the post
I have a mortgage note I'm considering selling. Originally it was for 120K at 5%. It's about 6 years old with about 108K principal left. Monthly payments are $644.19. I called a firm that is offering $86,333 for the note. I'm thinking of taking it. I don't need the lump sum, would invest $60k at vanguard likely in VTI. Much of the rest would go towards a small boat cruise. I could pay for the cruise out of other savings so not really needed for that. Pros - simplify assets, reduce annual taxes, take one time tax loss. Cons - lose monthly income stream...
Anybody else grapple with this decision? Not sure where to get the best deal.
I've already contacted the payee to see if they wanted to refi, no luck. Will try one more time.
Anybody else grapple with this decision? Not sure where to get the best deal.
I've already contacted the payee to see if they wanted to refi, no luck. Will try one more time.