The idea of living mortgage-free can be particularly enticing for individuals nearing retirement. At this time, it’s also common for empty-nesters to consider selling the large family home in favor of a smaller property or condo that’s easier to maintain. Homeowners who have lived in a house for a long time and now have a low mortgage balance or perhaps no mortgage at all may consider whether it’s advantageous to buy a new property with sale proceeds in cash instead of getting a mortgage. Although pre-retirees may be hesitant to carry debt into retirement, the leverage can pay off.

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