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pay off

Posted on: 26th Aug, 2008 07:21 am
My wife and I are retired. We owe about $103,000 on our house. We have about $280,000 in our portfolio which is mostly IRA. Should we pay off our home?
Hello svsuzanne,

I'm not a tax or financial advisor but I do have a question. Instead of decreasing your portfolio isn't it possible you might want that money at some point especially considering todays economy?

Have you considered looking into a reverse mortgage for your home? You could stay in it, have no payments & increase your personal security. For more information on reverse mortgages visit the HUD website at http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm
The site will even refer you to other links & phone numbers for more information. There are many misconceptions concerning reverse mortgages - here you can find answers not rumors.
Posted on: 26th Aug, 2008 09:39 am
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