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Posted by Philly 3 years ago In:

Philly
Philly Asked:

I plan to rent out my current home and buy ...

 I plan to rent out my current home and buy another one with the objective of selling my current home in 2 years when the market should be back. Then I will use the proceeds to pay down the mortgage on the second home. Do you think this is a good strategy to pay down my debt?  I am already retired and work part-time. This is my way of dealing with the losses in my 401K-- pay down mortgage debt. Thanks.

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