Pay off mortgage?

OperaDad
Sun, 25 Jan 2009 00:03:17 +0000

Paying off your mortgage does help for financial aid purposes. Home Equity is a protected asset.

However, make sure that you can afford to spend your savings that way. Don’t spend your emergency fund. Etc.

If you might need your savings, make sure you put on the Home Equity Line before you paydown your mortgage. You don’t want to have paid off your mortgage, and then be declined for the HE line.