Re: paying off my parent\'s mortgage..help needed
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And so you have a couple hundred to several hundreds of thousands of dollars doing absolutely nothing for you. Brilliant!
Real estate appreciates. The money you have tied up in it is not doing nothing. If you buy a house for 500k tomorrow, do you think 500k is all it will sell for 15 years from now? Brilliant!
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The rate of appreciation is not effected by the size of any potential mortgage. The returns generated from other financial investments are directly proportional to the amount of capital invested. So your house will go up in value AND you will get the returns on any stock/bond/real estate/etc purchases you make with the money from the mortgage AND you will deduct your mortgage payments from your taxable income. The US gov't gives FREE MONEY to house owners in this country. By not taking out a mortgage you are saying 'no thank you'.
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