F
foley26
Guest
Have 500k mortgage on property that's (still!)worth more than mortgage - est prop worth 600-700k. Salary is fine to cover mortgage and the increased payments of 1k/month I've been making to accelerate mortgage repayment.Have 100k cash on deposit.
I "think" conventional wisdom would tell me to put the 100k cash against mortgage and continue to pay down the mortgage, but in an era where cash is king, interest rates are coming down etc I'm asking myself, why am I rushing to repay my mortgage? Why not reduce mortgage payments to int only thereby increasing cash position so as to take advantage of reduced asset prices going forward?
I "think" conventional wisdom would tell me to put the 100k cash against mortgage and continue to pay down the mortgage, but in an era where cash is king, interest rates are coming down etc I'm asking myself, why am I rushing to repay my mortgage? Why not reduce mortgage payments to int only thereby increasing cash position so as to take advantage of reduced asset prices going forward?