All Forum Posts by: Donald Longo

@Anthony King I totally agree. The 2k is us paying double on both cars. Meaning, if we paid just our normal payment, we would only owe 1k total for 2 brand new vehicles. We moved out of NYC and did not own a car. With that said, perhaps owning used cars we could buy with cash, may be the right answer.

Hi Everyone!

Merry Christmas! I need people's help. I would Like to hear what people think I should do. I just did a refi cash out and have cash on hand and trying to do the smartest thing with it.

My current non mortgage situation:

2 auto loans. 3.7% -we pay 1000 per car. 2k total (paying extra and have 28 months left of this)

1 student loan - 5% 150 a month and 17k total left.

That's our total debt situation. So the question is, should we wipe out all debt and have just the mortgage (700 a month total all in). Or should we search for a cash flow positive property and spread out the new cash on hand?

Side facts- we can carry the current monthly payments with the new mortgage on our current employment income but the thought of no debt is appealing.

All creative ideas are welcomed. Fire away!

Thank you all!!