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 Ask An Expert: Wait before taking mortgage to pay for kids' college.  Back

February 6th, 2011

Q: I own several homes free and clear, including my primary residence. Since the mortgage rates are low, should I obtain a mortgage so that I can use those funds to send my children to college? They are currently in secondary schools. — B.M., Leesburg

A: Although interest rates are at an extremely low point, I don't recommend taking a mortgage on your home or rental property if the money is not needed...

 

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