my home loan is less than 10,000 and I would like to know what will I experience if I pay it off?. Should I refinance it? - Mortgagefit

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my home loan is less than 10,000 and I would like to know what will I experience if I pay it off?. Should I refinance it?

What advantage would I have if I refinanced it and continued to pay. I ve seen comments that not having a loan (mortgage) is a disadvantage tax wise. Can you give me some ideas. Thanks

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Anonymous's picture

Anonymous
31-12-2015

2 Answers

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One of the expert of this forum will soon answer your question. Keep checking this page.

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Anonymous | Asked on 2015-12-31

1

Since you've been paying on that note for many years, you've paid off all the interest already. I don't see any major tax ramifications by paying off the balance of the principal.

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Anonymous | Asked on 2016-01-24

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