Tading Spaces Home Free... What would

[sm4987]

Wouldn't it be cool to be mortgage free!!! I would pay off the rest of my bills, fix up the house, take a vacation and then I would start a serious savings fund.

I think I am going to enter and I'm not a big contest person.

 

[Obi-Wan Pinobi]

Well, I would definitely keep in mind that I heard that the couples from the $100K episode ended up paying taxes on that little windfall, so some would definitely go to a fund to take care of Uncle Sam (darn him!!).

After that -- take care of a few other bills, start putting money toward savings, and write a letter of resignation for my wife so she can leave her job and concentrate on getting healthy. Without having to worry about the mortgage, we could manage on my salary.

 

[KrnB]

I think we would actually take the cash option, since even after taxes, we'd still end up with more. We'd use the money to pay off all our other bills and take care of the mortgage - so we can start working on the money for our new house! We're in a townhouse now, and we want to buy a big chunk of land further out of the city to build our dream house.

 

[Alice28]

I would take the cash option too, as we only owe $120,000 on our mortgage- even after taxes we would come out ahead. Then I would pay off the balance of our credit cards, our car, and who knows, maybe buy into DVC! Yeah baby!