Dear Dave,
Is it ever okay to pull money out of your emergency fund to pay off your home? My husband and I were talking about this the other day, because we are so close to paying off our mortgage. We would appreciate your thoughts.
— Erin
Dear Erin,
Believe me, I understand how tempting it could be to throw a bunch of money at your house, get rid of the mortgage payments and own it outright. But, I wouldn’t recommend draining your emergency fund to make it happen—even if it meant being completely debt-free sooner.
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