Is it possible to purchase my mortgage note from the bank? I have about 12 yrs left on a 15 yr mortgage at 1.875%. The remaining balance is around $330k.
I know the wise choice is to pay the minimum and invest any extra payments I want to make or at least save them in a HYSA.
The value of the loan is less than $330k to the bank, can I buy the note at its fair market value and cancel my own debt? This seams like an impossible thing to do but if I could it would save me money and give me peace of mind.
Feel free to tell me all the ways this is an impossible or terrible idea.
I know the wise choice is to pay the minimum and invest any extra payments I want to make or at least save them in a HYSA.
The value of the loan is less than $330k to the bank, can I buy the note at its fair market value and cancel my own debt? This seams like an impossible thing to do but if I could it would save me money and give me peace of mind.
Feel free to tell me all the ways this is an impossible or terrible idea.
Statistics: Posted by PeanutButter — Mon Feb 12, 2024 8:47 pm — Replies 13 — Views 818