Quote:
Originally Posted by SIKSUKR
The one problem with the paying cash argument is if you can get more return on your money than the interest of the loan,it makes no sense to pay cash.I know I'm getting 10% on mine and loans are around 5% so paying cash is losing money.
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And where right now can you get a guaranteed 10% return on your money??... 2nd home mortgages (which most lake houses are) are currently in excess of 7%. In my opinion paying off debt with a guaranteed return of 7% makes a lot of sense right now particularly in this extremely volatile market!
Dan