Since I left my job, I decided to relocate and buy a new home. I have been told to pay off my present mortgage to reduce debt in order to obtain a new mortgage. Or is it best to sell first and hope I find a house and mortgagor before closing. Or...pay cash from IRAs for new home and once I sell first home, reinvest..
Advisor has said never pay off mortgage, it’s good debt, but I’m favoring paying it off and pocketing that payment. Interest rate is at 4.25. Thank you!