Should I pay off my mortgage before I sell my house?

i have about $40,000 left on my mortgage to pay off which will probably take 4-5 yrs. within probably the next 10 yrs i would like to sell this house and buy a bigger one. what difference would it make if i paid it off in 4 yrs or if i left it unpaid during the selling process? either way i would have to pay it off right?Should I pay off my mortgage before I sell my house?
even if you don't sell the house it would be better to pay it off if it does not put any financial strain on you. I am a loan officer and i can tell you that the amount of interest you pay over the course of a loan is HUGE.


Also, when you sell your house your mortgage is automatically payed off with the proceeds from the sale. the bank has what is called a lien on your home. The lien means that until you have that loan payed off you cannot refi or sell the home. In short when you sell or refinance your home the lien/mortgage is paid automatically.Should I pay off my mortgage before I sell my house?
Either way you have to pay it off. If you sell and buy up in a down market I think you win. Because when the market rebounds your new house will have a bigger gain. That being said if you have the ability to pay down your mortgage is may not be a good deal in the short term. You can save the extra money and build up a cash reserve to help with the new house. Down payment or rehab. Regardless you are in good shape.
That depends on a lot of things. What is your mortgage rate? Do you have any other debt? What would you use the money for if it was not to pay down the mortgage?





If you have any other debt, you should pay that down instead as it is most likely non-tax deductible and at a higher rate. If you have no other debt, you might get a better return by investing in a business you have or in stocks or mutual funds. Your time frame of 10 years is long enough to consider such options. Paying down the mortgage is better than putting it in the bank, but other options might be better unless your mortgage rate is really high. e:mail me if you have more information you want to share. Good luck to you!
As long as you're making your payments on time, you can do either.
This realy depends on whether you have a clause charging extra interest for early payment.
Well, if you pay it off isnt that more cash in your pocket when deal closes?