Paying off a mortgage?

[Dominic Punzo]

This question isn't actually for me. It's for my parents but if I can manage to help them out than it'll be of great help to me. So recently my parents came into some money. It's nothing crazy or life changing but it would be enough of a sum to pay down a really good portion of their mortgage. My questions is should they do this and if they do will there be any benefits or penalties to their mortgage and or monthly payment?

[Brett Snodgrass]

@Dominic Punzo

Hmmm well in my opinion, and again this is just my opinion. 

Unless they are behind on the mortgage, they should continue making their regular payments. 

It really wouldn't benefit them. Usually, there is only a penalty if you are planning to pay off the total of the mortgage before the term is up. 

As an investor, I think they should use that money to make more money. Either in real estate or in the stock market. The mortgage will still be there years from now but this sum of money they were blessed with might not be, especially if they use it to pay the mortgage. 

Just my 2 cents. 

Hope this helps. 

God bless.