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| Mortgages Mortgages lending and lendors - your mortgage experiences, questions, and discussion. |
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My situation:
House worth $700k+ Mortgage: 1st $97K 2nd $46k Have $71k coming from sale of stock (by-laws force me to sell) Have $26k in savings House needs repairs: Roof $46k & another $20k if I am to sell My age: 64 Houses my wife & nyself and invalid son-in-law, daughter & their 4 kids. If I fix up and sell, my invalid son-in-law, daughter & kids are on the street. I'm inclined to pay off the 1st upon sale of stock and pay off the 46k 2nd over following 2 years. I can patch the roof for another 2 years, then work on house repair until I retire at maybe age 70. (I'm in good health with good income). House is bigger than I need, but I like living in house & can't see putting my daughter & family into hardship (they have low income). I have modest retirement funds upon retirement. Advice? Fix and Sell or Keep and Pay Off? You thoughts? Thanks. |
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