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Old 02-26-2010, 08:59 PM   #5
Avalon Senior Member
Join Date: Oct 2008
Location: Montreal, Quebec
Posts: 37
Default Re: Rent it or sell if for cheap?

Thanks Steve for responding as I know your Country went thru some tough times.

The mortgage right now is open variable. I can also pay it off at anytime. The only restriction is that I have to make the minimum payment which is the interest. So in the above example, the minimum payment is $208. This amount will not reduce the principal, but only service the debt. Of course I can pay down more if I choose to.

No, I don't need this home as I have my own home.
Julius is offline   Reply With Quote