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Re: What Amount Would It Take To Get You Out Of De
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Originally Posted by Digging4Truth
Wow... that will be great.
Our payments (via the van note) are higher than we would have wanted them to be but we financed the loan for 6 years and we are halfway there now. Had we been able to finance the house on an actual mortgage the payments would have been very low and the van would be paid off by now. But this way we get out under it faster and should things go south before we finish paying off the van note they can come take my van... but they can't come and take my house.
It is tempting sometimes to take a loan against the house and pay off everything. That would lower our monthly expenses tremendously. But I am very determined to keep a lien off of this house. I have a house and 3 acres free and clear and I don't want to ever ruin that.
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Yes, there is a certain amount of security in that. I waffle between paying off the mortgage and using the money to create cash flow with good debt. I basically don't want to put all my eggs in one basket any which way.
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