So, I'm selling a house. I'll be making a little money on it (yay). The house is paid off, so there's no money that has to be paid to the bank.
As I see it, I can do one of three things with the proceeds. i can (1) invest the proceeds in mutual funds, (2) use the proceeds to pay down the mortgage on my current home, (3) invest half and put half into the mortgage.
If I use the proceeds towards my home, I won't be able to wipe out the mortgage. I would like to do a principal reduction to reduce my monthly payments. My mortgage rate is about 3.5% apr.
So...any thoughts on my quandry?
Submitted April 18, 2018 at 09:31AM by wstreefrog https://ift.tt/2vnIjUb
