Just inherited $150K unexpectedly. Owe $99K at 3.94%. The mortgage payment (excluding taxes/insurance) is $800. Should I go ahead and pay it off? The house is worth about $400K.
I’m F63, semi retired, hubby and I are receiving $6K in pensions each month. No credit card debt and about $500K in investments/savings. Plan is to work part time to supplement the pension until I can take SS when I’m 66 1/2. Hubs doesn’t qualify for SS (federal employee; he gets the pension instead). So, pay off the mortgage now? Very tempting to own the house free/clear but is investing the $100K a better option?