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So, my wife and I reached a point where our equity is higher then our remaining mortgage. She is wondering if we should use the equity to pay off the mortgage. Honestly it seems like just taking on another loan/mortgage that might be higher in interest and from what short bit I could read up on you don’t get the full equity amount either. Could someone help me understand if this is a good idea or should we just keep on going as is. Our biggest fears is when the current housing bubble pops we will lose all our built equity.
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- 3 years ago
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