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What to do with cash
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Fawazhay
Posted 8/17/2017 01:28 (#6192204 - in reply to #6192104)
Subject: RE: What to do with cash


Northern CA
One problem with paying off current mortgages is that the buying power of the cash is reduced. Farm Credit likes to only loan 60% of appraised value. So, let's say you have $100,000 saved up for a down payment. You pay down your current mortgage. Next year, the farm you want to buy comes up. You now can only borrow back maybe $60-65,000 of your original $100,000. Something to think about as I have been opposite of you, paying off debt maybe too quickly... if there is such a thing, and I am starting to think there is.
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