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Thursday, February 2, 2023
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I have won the Christmas Lottery Jackpot: what do I do with the mortgage?

Date: February 2, 2023 Time: 18:22:34

In the absence of a day to start the Extraordinary Christmas Lottery Draw 2022 the main question is,What would you do if you hit the jackpot?? Tomorrow will already be the day of “health” if luck has not accompanied even with the stone, but for now more than one dream of traveling, paying off debts or lowering the mortgage. but, Is it the best way to invest a prize? Josep Vera, director of Business Development at Hipotecas.com, acknowledges that he takes advantage of the money won in the lottery to pay the outstanding capital of the mortgage It is always “a good option“, then, he details, “the citizen will be able to save the interest that the loan generates over the years.” However, the expert considers it convenient qualify this confirmationsince, for him, decisions as important as these must be made by consensus and thought among the loan holders.” This process has a cost. He notes that once the decision to cancel the mortgage loan has been made, it is necessary to request the entity balance pending payment to then make a transfer for said amount adding the amount corresponding to the stipulated early repayment commission.Do not forget to request the zero debt certificate to ensure that the home is free of charges and cancel the mortgage in the property registry. Depending on the prize that touches us in the Christmas Lottery draw, the option of repaying the entire mortgage will be more or less accessible. “The factors that should be taken into account are the do not lose the deduction on previous mortgages to 2013, 15% of what was paid in the year, up to 9,040 euros; the cost of the commission for early repayment, which can reach 2% depending on the settlement date, among others”, he details. The Christmas Lottery distributes numerous ‘pinches’ of the prize. It is 1 in 100,000 according to mathematicians, therefore, in these casesIt is always a good option to make an early repayment to reduce our mortgage in term (time) or in installments (capital and interest). But which is the better of the two options? Vera assures that “there is no better option than another, but we must remember that reducing the amount of our installment will allow us to face our monthly payments in a more comfortable way and pay less interest during the time we have left on the mortgage, while if If we reduce the amortization term, we will have to assume the same installments, but in less time”.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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