I agree, personally I don't think its worth the risk as well as anxiety just to make a higher return. The only time I would ever consider taking out cash to invest is if rates are extremely low and the principle amount is also relatively low.
Also I would be less hesitant to do this on an investment property as well. If I can take out some cash and reinvest it, while the rental income still covers the monthly expenses I'd definitely do it. But when it comes to the home of my future family, its not worth the sleepless nights.
Loan Modification Girl
· 11 months ago
I wish I could pay off my mortgage in one huge swoop, but I don’t want to sell off hundreds of thousands of dollars of stocks, empty my emergency fund, withdraw from our IRAs and pay a big capital gains tax next year; plus losing the tax deduction on mortgage interest. --- This is actually what I'm experiencing right now. Great site. I will surely subscribe to rss feeds. More power!a
RefinanceMortgage
· 10 months ago
If anything refinance into a new loan but make a bigger down payment. This way you can take full advantage of the near record low mortgage rates across the country. Check http://www.refinancingcondo.com for more information. Thanks for the good post I will bookmark and come back.
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Also I would be less hesitant to do this on an investment property as well. If I can take out some cash and reinvest it, while the rental income still covers the monthly expenses I'd definitely do it. But when it comes to the home of my future family, its not worth the sleepless nights.