get cash now mortgage
Payoff my mortgage?
I have an endowment mortgage which runs out in 2013 and a std life policy to cover the money borrowed. I got my yearly letter about risk of shortfall etc.. and if I cash it in now it would pay off the mortgage (about £32,000). Should I cash it in and get rid of my mortgage ?
If not, should I make lump sum payments to reduce the 32,000 or invest any spare cash I have else where ?
Get rid of your mortgage. It’s the best long-term financial thing you could ever do.
Then you can invest what you’d pay monthly on interest and endowment for another 5 years and have a nice lump sum at the end, if you get what I mean.
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