Accellerated principle payments

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Oct 10, 2007, 09:04 AM

goodenmad

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Join Date: Oct 2007

Posts: 1

Accellerated principle payments

I'm retired (late 60's) with a 20year mortgage in it's 5th year. What is the advisability of starting withdrawals from one of my modest tax-deferred annuities (approximately 40K) to add $250/month to the payment? The principle is approximately 55K @ 5.75% with a monthly payment of $425.

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