In relation to a similar post, I have just paid off my last mortgage payment on a house valued at about $160,000. I have an equity line with a $20,000 balance (at 8.5%) that I can pay down at about 1,400/month, or I can take out a first mortgage at a lower rate (7.13%)for $50,000 or any other amount, pay off the equity line and invest the difference, keeping the tax deduction. Obviously I'm not an accountant. Any advice? Thanks alot.
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