Letter Re: Advice on Home Purchase: Minimize or Maximize Mortgage?
Dear James, I really enjoy your blog and try to read it every day. My husband and I live in New Jersey. We just sold our house in May and are renting for a year while we try to figure out where to move next. Unfortunately, our home lost a lot of equity so we only have $55,000 to use towards our next house. Do you believe it is better to pay cash for a house or is it wise to get a mortgage since interest rates are so low? Our original plan was to buy our next home with …