The Motley Fool Discussion Boards
Financial Planning / Inheritance Strategies
|Subject: Re: Question about inheriting a home||Date: 8/23/2012 3:13 PM|
|Author: JAFO31||Number: 5634 of 5758|
1. Inheriting a home with a mortgage plus enough cash to pay off the mortgage.
2. Any compelling reason to NOT use the cash to pay off the mortgage?
Assume that we have an emergency fund, retirement savings are on track and all of our other ducks are in a row. :-)
Off the top of my head:
What is the interest rate?
How does the interest rate on the inherited home compare to every other interest rate you might be paying?
Will you keep the home or are you intending to liqidate shortly?
If you keep the home, will it be for personal use or will in be turned into a rental?
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