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Would you pay down your mortgage?

If you won $200,000.00 would you pay down your mortgage. Or what would you do with the money?

Answer Question
 
dillonsma

Asked by dillonsma at 5:46 PM on Jun. 29, 2009 in Money & Work

Level 5 (81 Credits)
Answers (7)
  • Definitely! Probably pay most of it and use the rest to clear out all of our credit card debt. =)p
    AneesasMom

    Answer by AneesasMom at 5:48 PM on Jun. 29, 2009

  • Since our mortgage has a no penalty early pay off I would certainly pay it OFF. That would be lovely! It's not a very big mortgage at all, but on our low income it kills us every month. I'd have plenty left over to do the improvements needed on the house, get an extra vehicle. And even to pay off student loans :) Sounds like just about the perfect amount!!
    WillDoDa

    Answer by WillDoDa at 6:01 PM on Jun. 29, 2009

  • If I didn't have any retirement savings, I would put it in there before I would pay off my house.
    Anonymous

    Answer by Anonymous at 6:19 PM on Jun. 29, 2009

  • I would :)
    Erica_Smerica

    Answer by Erica_Smerica at 8:18 PM on Jun. 29, 2009

  • If I won that kind of money I would buy the house and pay several years worth of taxes, then pay off debts.....
    lordsmircal

    Answer by lordsmircal at 12:17 AM on Jun. 30, 2009

  • Pay it off or pay it down, it is the smartest thing to do! Read Dave Ramsey's The Total Money Makeover, safe an emergency fund as well.
    nanaevelyn

    Answer by nanaevelyn at 1:44 AM on Jun. 30, 2009

  • Our mortgage is at a very low percentage. I would pay off any debt besides the mortgage, put some money into my house and invest at least half.
    rkoloms

    Answer by rkoloms at 11:02 AM on Jun. 30, 2009

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