Selling a House Before Paying Off the Mortgage

Intro

Navigating the decision to sell a house while still tied up in a mortgage can feel like walking a tightrope. You’re juggling multiple factors: the existing debt, the market conditions, and your personal motivations. Whether it's due to financial strain, a lifestyle change, or a booming real estate market, understanding what it entails is crucial. By casting light on the nuanced implications, both from a financial and legal perspective, this guide aims to equip homeowners with the insights needed to steer through this potentially tricky situation.

When someone opts to sell their home before that final mortgage payment glimmers on the horizon, the underlying motivations can vary widely. Some might be lured by the prospect of cashing in on their property’s appreciation, while others might face unavoidable circumstances like job relocations or unexpected financial challenges. Whatever the reason, there’s no denying that selling a home in this situation can open a can of worms if not approached with knowledge and care.

Before diving deeper into the associated complexities, let’s clarify some key terms and concepts that are essential in this discussion.

Foreword to the Concept of Selling a Home with an Outstanding Mortgage

In today's fast-paced real estate market, understanding the nuances of selling a home while it still has an outstanding mortgage is crucial. This concept may seem daunting at first, but with a clear understanding of its implications, homeowners can navigate this intricate process with greater confidence. Selling a house before the mortgage is fully paid raises several important considerations—confidence, legality, and finances all play a pivotal role in this scenario.

When a homeowner opts to sell their property before paying off their mortgage, they must grapple with various elements such as remaining mortgage balances, potential penalties, and the overall impact on their financial health. These aspects are not merely academic; they have real-world implications that can resonate for years post-transaction. It’s about more than just listing a property on the market; it’s about making informed decisions that can significantly alter one’s financial landscape.

A sale done right can lead to new opportunities, while poor handling of the process can lead to troubles down the road. Hence, acquainted with these implications, homeowners can better position themselves for a successful sale. In the following sections, we will dissect the foundational elements of this concept, laying the groundwork for a comprehensive understanding of what it entails.

Understanding the Basics

When we talk about selling a home with an outstanding mortgage, we are referring to a property that still has loan obligations with a financial institution. The relationship between the homeowner and the bank does not just fade away once the decision to sell is made. Keeping that in mind, here are the few essential things to know:

Equity: This refers to the difference between the home's selling price and the remaining mortgage balance. If your home has appreciated in value, you might have significant equity, which are funds available to you after the sale and mortgage payoff.
Liens: These are legal claims against your property. If you sell the house, the liens will need to be settled, often through the sale proceeds.
Due-on-sale clauses: Some mortgages contain clauses that may require the full remaining balance to be paid upon sale, which you'll need to consider.

Understanding these basics equips the homeowner with the necessary knowledge, enabling them to plan effectively for the sale and what it might mean for their financial future.

Common Reasons for Selling

Every homeowner has unique circumstances that may prompt them to sell their house while still under a mortgage. Some of the commonly seen motivations include:

Relocation: A new job opportunity in another city or state can spur a need for quick selling, often leading homeowners to sell before they reach full equity.
Financial Relief: Unexpected financial burdens, such as medical emergencies or loss of income, might drive someone to sell in order to alleviate pressures of monthly mortgage payments.
Upgrading or Downsizing: Family changes, like welcoming new members or children moving out, can prompt the need for a different living space, prompting a sale.
Market Conditions: If the housing market is thriving, homeowners may feel it an optimal time to sell despite remaining mortgage periods.

Selling with an outstanding mortgage is a significant decision that requires clarity and foresight. Knowledge of the context and motivations for selling plays a vital role in formulating strategies and understanding the broader implications of such decisions.

Legal Considerations When Selling

When contemplating the sale of a home that still carries a mortgage, legal considerations play a pivotal role. This phase is critical as it involves understanding various legal obligations and restrictions that may impact the transaction. Ignoring these aspects can lead to unexpected hurdles that might delay or jeopardize the sale. Therefore, being aware of the intricacies of liens, mortgage clauses, and the necessity of professional advice sets the foundation for a smooth selling process.

Liens and Title Issues

Liens, which act as claims against a property due to unpaid debts, can complicate the selling process. If there are existing liens on the house, they must be addressed before a sale can go through. This could include unpaid property taxes or home equity lines of credit that could affect the clear title transfer to the new owner.

Establishing a clear title is paramount. If the property isn't free of liens, prospective buyers might back out of the deal or demand price reductions due to the associated risks. It can sometimes feel like you’re wading through a thick fog, trying to locate the light at the end. Here’s what to consider regarding liens:

Investigate All Liens: Ensure you conduct a thorough title search before listing the home. This way, you can identify any issues that may come up during negotiations.
Prioritize Clearing Liens: If you discover liens, clear them as soon as possible to minimize complications in the sales process.
Document Everything: Keep records of any payments or settlements related to liens to mitigate potential disputes down the line.

Understanding Due-on-Sale Clauses

Many mortgages come with a due-on-sale clause; this means that upon the transfer of ownership, the entire mortgage balance may become due immediately. This clause can be a double-edged sword, serving as both a safeguard for lenders while creating unforeseen hurdles for sellers.

Here’s how it works: when you sell your house, the lender has the right to call the full amount of the loan, potentially forcing you to pay off the remaining balance before closing. Understanding this clause can shape your approach to selling:

Check Your Mortgage Agreement: Before making any decisions, review your mortgage documents to see if a due-on-sale clause exists and what it entails.
Discover Alternatives: If your mortgage has this clause, consider negotiation options with the buyer. They might be willing to assume the mortgage under certain conditions if the lender agrees.
Factor in the Timing: If selling seems the right path, be sure to calculate timing around the loan payoff. It may reduce pressure during the negotiation phase.

Consulting with Professionals

Navigating the labyrinth of selling property comes with numerous legal intricacies, making consultation with professionals not just advisable, but crucial. Real estate agents, lawyers, and financial advisors can provide insights that keep you on the straight and narrow as you make decisions.

Real Estate Agent: An experienced agent can guide you through market conditions, pricing strategies, and legal paperwork. They’ve been there and done that, so lean on their expertise.
Real Estate Attorney: A lawyer can help untangle the legal jargon, ensuring you meet all obligations and protect your interests. They can draft or review contracts, addressing potential risks.
Financial Advisor: They can help weigh your options in relation to your financial goals, ensuring that selling now aligns with your overall financial strategy.

In summation, the legal landscape when selling a home before the mortgage is paid has many layers. Each component, from liens to consultation, plays a critical role in ensuring a successful transaction. Understanding these legal considerations greatly reduces the likelihood of complications and fosters a more straightforward sales process for all parties involved.

"Knowledge is power; sharing it can be priceless."

Financial Implications of Selling a Home Before Paying Off the Mortgage

Understanding the financial implications of selling a home before fully paying off the mortgage is key for anyone contemplating this significant financial move. It's a landscape peppered with pitfalls but also ripe with opportunity. From looking at equity to considering the impact on credit, each element deserves its own spotlight to fully appreciate the breadth of consequences and potential benefits.

Legal implications of selling a property

Equity Considerations

When selling a home, one must take a hard look at their equity, which is essentially the difference between what you owe on your mortgage and what your property can fetch in the market. In simpler terms, if you’ve been paying off your mortgage diligently, you might have built a reasonable amount of equity, which can be quite the windfall.

For example, let’s say your home is valued at $300,000, yet you still owe $200,000 on it. This means you’ve got $100,000 in equity. If the market is favorable, selling your home for a price significantly exceeding your mortgage balance can provide you with a substantial sum to reinvest or use in a new venture. However, keep in mind that selling at a loss, or in a declining market, could leave you with little to no equity.

Moreover, the timing of the sale can greatly influence your equity position. Entering the selling process during a seller's market can maximize your returns, while a buyer’s market might mean extended sell times and offers that don’t meet expectations.

That Which is Left Unpaid

What happens to that remaining mortgage balance when the home is sold? If the sale price doesn't cover the entire mortgage, this is where things can get legally and financially tricky. Homeowners facing a short sale will need to be acutely aware of what their lender might require.

Essentially, if you sell the house but don’t get enough to pay off your mortgage, you are left with a deficiency balance. This figure could haunt you long after the signing of the final paperwork unless you've arranged with your lender to forgive the remaining balance.

In some cases, this balance may even lead to legal action if the lender decides to pursue it. Finding out beforehand if your lender allows for such a short sale can help you sidestep unexpected financial burdens. Getting this figured out should be near the top of the priority list; otherwise, you could end up with an unpaid bill that continues to complicate your financial landscape.

Impact on Credit Score

The act of selling a home while still having a mortgage can ring alarm bells on your credit score depending on several factors. This is especially true if you were to default on your mortgage or if you resort to a short sale. Credit scores can drop—sometimes like a hot potato—following events that signal financial distress to lenders.

However, if you go about the sale systematically, ideally with all your ducks lined in a row, your credit score can remain stable. Paying off the mortgage during the sale (or having a plan to do so) will certainly reflect positively on your score, whereas letting payments slide or going into foreclosure can damage it significantly, potentially impacting future borrowing opportunities.

It's crucial to remember that while selling a home might solve one problem, it could very well create another if you're not fully prepared for the credit implications. In most cases, keeping an eye on your score and ensuring that all remaining balances are manageable can help cushion the impact.

“Clarity in financial decisions brings peace of mind, making you navigate complexities with a clearer path ahead.”

The Process of Selling a Home with a Mortgage

When considering selling a home that has a mortgage still attached, it is essential to grasp the intricate steps involved in the process. This goes beyond just sticking a ‘For Sale’ sign in the yard. It requires strategic thinking and careful planning. Understanding this process is crucial because it can significantly affect your financial outcome and stress levels throughout the sale. Every move you make should align with your financial goals, ensuring you don’t end up with unexpected complications.

Preparing the Property for Sale

The first step in preparing to sell your home is making it as appealing as possible to potential buyers. This is more than just keeping it clean; it’s about making the property shine. Here are some key actions to consider:

Repairs and Upgrades: Address any outstanding repairs—you don’t want buyers walking away due to minor issues. Small upgrades like new paint or updated fixtures can make a big difference.
Staging the Home: Consider staging the property. This helps buyers visualize themselves living there. It's not just about neatness; it's about creating a vibe that resonates.
Curb Appeal: Don’t forget about the outside. First impressions matter. A well-manicured lawn and tidy landscaping invite buyers in.

Overall, a well-prepared home can induce a more favorable response from buyers, potentially leading to quicker offers and even higher prices.

Listing and Marketing Strategies

Once the home is ready for showtime, you need an effective listing and marketing strategy. This step is your beacon to attract buyers. The following tactics can enhance visibility and appeal:

Professional Photography: High-quality images are vital. Most buyers start their search online, and captivating visuals can make your listing stand out.
Utilize Social Media and Online Listings: Harness the power of social platforms like Facebook. Advertise your home on real estate websites, and don’t forget platforms like Reddit, where niche communities might be looking for homes.
Open Houses: Host open houses to allow potential buyers to experience the home first-hand. This personal touch can sometimes create a connection that digital interactions cannot.

These strategies not only enhance the property’s visibility but also foster engagement, increasing the chances of receiving offers.

Negotiating with Buyers

Negotiation can be the most challenging part of the sale process. It’s essential to approach negotiations with a clear strategy while being open to dialogue. Here’s how to navigate this important phase:

Be Prepared to Compromise: Expect buyers to negotiate. Being flexible with terms, such as closing dates or minor repairs, could lead to a successful sale.
Understand Buyer Motivations: Try to see the sale from the buyer’s perspective. Knowing what they prioritize—whether it's a quick sale or a lower price—can give you leverage.
Consult Professionals When Necessary: Don’t shy away from engaging a real estate agent or legal professional if negotiations become tricky. Their experience can help you navigate through challenges.

"Selling a home with a mortgage is as much about the numbers as it is about the relationship you build with potential buyers."

Closing the Sale

When it comes to selling a house, particularly one that's still tied to a mortgage, the process of closing the sale is crucial. It's often the final stretch before the ownership of the property officially transfers to the buyer. This stage ensures that all agreements, payments, and legalities are settled properly. Skipping over any part of this process can lead to complications down the line, such as disputes over the title or outstanding debts.

A successful closing not only marks the end of the seller's responsibility towards the property but also paves the way for a smooth transition of ownership. Usually, this is the time when buyers are checking their new investment, feeling the excitement and anticipation of moving in, while sellers are hoping to walk away from the table with sufficient funds to cover any remaining debts or future endeavors.

Finalizing Agreements and Paperwork

This part of closing is all about making sure that every 'i' is dotted and every 't' is crossed. The paperwork can feel a mile long, but it's essential. Typically, the seller, buyer, and any involved agents will gather for the closing meeting. Here, agreements like the purchase contract and disclosures need to be reviewed and finalized.

Some important documents to keep in mind include:

Financial analysis of real estate transactions

Deed: This is the document that actually transfers ownership of the property. It needs to be signed by the seller.
Bill of Sale: This pertains to any personal property being included in the sale, such as appliances or fixtures.
Settlement Statement: Often referred to as the HUD-1, this outlines all costs associated with the sale, including agent commissions, mortgage payoff amounts, and other fees.

As complicated as it sounds, having an experienced real estate attorney or agent handy can prove invaluable. They can clarify what's required and help you avoid any pitfalls that could lead to costly delays.

Settling the Remaining Mortgage Balance

Once the agreements are in place, the next step is ensuring the mortgage gets paid off correctly. This is a significant aspect of the closing process, as any outstanding balances need to be settled to clear the title and allow the sale to proceed. Usually, the closing agent will pay off the mortgage immediately from the proceeds of the sale. This means the lender should receive the funds at the moment of closing, effectively releasing the seller from further obligation to that loan.

However, it’s worth mentioning that if the sale price isn't high enough to cover the mortgage balance, this could lead to a short sale scenario. In such cases, sellers must get in touch with the lender beforehand to negotiate the sale.

In summary, closing the sale plays a vital role in the overall process of selling a house while still considering the mortgage. Carefully finalizing agreements and ensuring that all balances, especially the mortgage, are settled, will not only make the transaction smoother but also provide peace of mind.

"Selling a property with an outstanding mortgage can be tricky, but understanding the closing process helps mitigate risks and sets a clear path ahead."

With all these elements in play, it's crucial to approach the closing as both an endpoint and a new beginning for both buyer and seller.

After the Sale: What to Expect

Selling a home, particularly when there is still a mortgage attached, can ripen a set of uncertainties that follows the sale itself. Understanding what to expect after the ink dries on your sale agreement is vital. This phase holds significance not just for your financial well-being but also for the long-term implications tied to your credit health and tax responsibilities. If you navigate this terrain with insight, it can potentially turn into an advantageous chapter of your financial story.

Tax Implications of Selling a Property

When you sell a home, the interplay of tax obligations can often appear daunting. It's not merely about handing over the keys; it's about understanding how that sale impacts your tax situation. Capital gains tax is a critical element here. If you’ve owned the home for a certain duration and it's seen a rise in value, you may be liable to pay tax on that profit.

For instance, if you bought your house for $250,000 and sold it for $350,000, you might have a capital gain of $100,000. However, if it’s your primary residence and you’ve lived there for at least two years, certain exemptions can kick in, allowing you to exclude a hefty portion of the gain ($250,000 for single filers and $500,000 for married couples filing jointly) from your taxable income.

Moreover, if you’ve made significant improvements to the property during your ownership, you might actually increase the basis, thus reducing the taxable gain. Always advisable is to keep a good record of these improvements. At tax time, don’t forget to consult with a tax professional to navigate the nuances of your situation. Each financial component here can be a double-edged sword, so don’t go knocking on the tax man's door without a solid understanding.

Managing Remaining Financial Obligations

Post-sale, some financial responsibilities might still linger, and managing them is pivotal to staying afloat. First things first, if your sale concluded with a remaining mortgage balance, you must settle that debt. This is often straightforward as the closing process typically handles the payment directly from the sale proceeds. However, if you find yourself in a situation where the home sold for less than the outstanding mortgage—a scenario commonly referred to as a "short sale"—you might have to engage in negotiations with the lender.

Beyond the mortgage, there might be other obligations that need your attention:

Homeowners Association Fees: If your property was part of an HOA, it’s crucial to make sure all dues are settled to avoid any future clashes.
Utility Bills: Any outstanding bills should be cleared, as last-minute charges can crop up even when a sale is in motion.
Insurance Policies: Don't forget to cancel or adjust your homeowners insurance, as continuing to pay for coverage on a property you no longer own could lead to unnecessary costs.

"Managing your financial commitments post-sale is crucial to not falling into a hole; staying organized and proactive will help."

Potential Advantages of Selling

Selling a home before the mortgage is paid off can often seem like a leap of faith, but it can also be a strategic move with numerous advantages. Understanding these benefits can help homeowners make informed decisions, especially in the dynamic landscape of real estate. The potential upsides aren’t just limited to cash flow; they may also include adapting to changing life circumstances and market dynamics.

Leveraging Market Conditions

In real estate, timing is essential. If the market conditions are just right—say, during a sellers' market—you can leverage this to your advantage. In a hot market, demand exceeds supply, which can drive up the selling price of your home. You could find buyers willing to offer more than your outstanding mortgage balance, allowing you to pay off the loan and pocket the excess funds.
You might think, "Why should I sell now?" Well, if your neighborhood is seeing a surge in interest, you might as well ride the wave. Keep an eye on local trends, neighborhood developments, and economic indicators. An appealing market can turn your decision from a potential loss to a beneficial financial move.

Examples of leveraging:

Recent home renovations can make your listing more attractive.
Marketing unique features of the property that match current buyer preferences.
Utilizing social media platforms, like Facebook and Reddit, to reach a wider audience.

"Timing is everything. In real estate, being proactive is just as vital as being strategic."

Flexible Financial Management

Selling under a mortgage may actually open new doors for financial flexibility. The cash from selling your home can be rerouted to other investments or possibly to pay down debt that has been dragging you down. Maybe you have high-interest credit cards or an underperforming asset that you wish to offload. The windfall from your home sale might just be the fresh start you need.

Additionally, consider the burden of monthly mortgage payments. By selling, you relieve yourself of those obligations, fostering a breathing space in your monthly budget. Suddenly, managing finances can become less stressful.

Here are a few financial management options post-sale:

Invest the Funds: Consider equities or bonds that may yield better returns than your mortgage interest payments.
Emergency Fund: Build or replenish a safety net, giving you peace of mind.
Real Estate Investment: Use proceeds to invest in a new property that aligns better with your current financial and personal situation.

In essence, selling before the mortgage is paid off isn't just a way to clear one obligation—it's often a chance to recalibrate your entire financial landscape.

Potential Drawbacks and Risks

Selling a house before the mortgage is fully paid can feel like walking a tightrope—exciting yet daunting. It’s essential to understand what you might face along this path. Here, we will dive into two significant risks: facing prepayment penalties and short sale situations.

Facing Prepayment Penalties

One of the pitfalls that can catch homeowners off guard is the prepayment penalty. Several lenders impose this fee when you pay off your mortgage before the agreed term. It’s almost like getting slapped with a surprise bill in the mail after thinking you handled everything, right?

Not every mortgage includes a prepayment penalty, but if it does, this fee can be a hefty sum, typically ranging from 2% to 5% of the outstanding balance. You need to check your loan documents closely. If you see words like "prepayment" or "penalty fee," take them seriously; they could hit your pocket harder than expected.

Here are a few points to consider regarding prepayment penalties:

Loan Type: Certain types of loans, like subprime mortgages, are more likely to have these penalties.
Timing: These fees often apply during the first few years of the mortgage, so the timing of your sale can greatly affect your financial outcome.
Lender Policies: Each lender has unique rules, so a quick call to your mortgage provider can clear away the fog.

"Selling your home can be a smart move, but don’t overlook the hidden costs that could shadow your profit."

Short Sale Situations

Short sales represent another complex scenario that can unfold when you're selling a property before settling the mortgage. If you owe more on your mortgage than the house is worth, you're in a tight spot. In such cases, a short sale can offer a potential way out, but it’s often riddled with complications.

When you pursue a short sale, you're asking your lender to accept less than what you owe on the mortgage. This can feel like a lifeline, but remember, it’s not a walk in the park. Here are some key aspects to consider:

Lender Approval: Obtaining lender approval for a short sale can be like pulling teeth. They will scrutinize your financials to determine your eligibility.
Impact on Credit: A short sale can still ding your credit score, albeit not as severely as a foreclosure. This downside might affect your future borrowing power.
Buyers' Perception: Some potential buyers are skittish about short sales, viewing them as red flags. This could limit your pool of interested buyers and delay the sale process.

In any case, a short sale might not provide the relief you hope for and could prolong your financial challenges. Always weigh the risks against your needs before deciding on this route.

Case Studies: Real-Life Scenarios

Examining real-life scenarios provides a unique lens through which one can understand the complexities of selling a house with an outstanding mortgage. These case studies illuminate not only the possible outcomes but also the pitfalls that many homeowners encounter. By analyzing various situations, readers can glean insights that help in making informed decisions regarding their personal circumstances.

Successful Sales

When looking at successful sales, one can identify common threads that make these transactions beneficial for all parties involved. For instance, consider a family in Denver who needed to relocate due to a job offer in another city. They had a mortgage remaining on their home but decided to list the property while still owing money. In this specific case, the family worked with a knowledgeable real estate agent who stressed the importance of pricing the home competitively. They utilized a combination of strategic marketing, open houses, and professional staging to attract buyers.

Through careful planning and execution, they managed to sell their home at a price that covered their mortgage balance and enabled them to pocket some equity. This family illustrates how an understanding of the market dynamics and engaging the right people can lead to a successful sale, even when a mortgage is still in play.

Challenges Encountered

Not every sale goes as smoothly as planned; challenges can arise that complicate the process of selling a home with a mortgage. As an example, think of a couple in Miami who decided to sell their home while still under mortgage obligations. They were in a tough spot; their mortgage balance was higher than the current market value of the home, leading them to explore a short sale.

The couple faced multiple challenges, including negotiations with their lender, who had to approve the short sale. Additionally, buyers in the market were wary of purchasing a property where the sale price was less than what was owed. This led to prolonged negotiations, wasted time, and ultimately a sale that took much longer than anticipated.

Key takeaways from this couples' experience include:

Understanding lender requirements: Knowing what is needed from the lender can save a lot of headaches.
Market research: Being aware of market conditions is crucial to avoid underselling.
Prepare for delays: Sales can drag on, particularly with short sales or when dealing with liens.

"Navigating a home sale with an outstanding mortgage is like dancing on quicksand; one misplaced step and you're in trouble."

These case studies highlight the intricacies involved in selling a house before the mortgage is fully paid off. They reinforce the idea that while opportunities exist, considerable planning and knowledge of the real estate landscape is required to avoid common pitfalls, making it paramount for sellers to gather as much information as possible.

Finale: Weighing the Options

When deciding to sell a house before the mortgage is completely paid off, a thorough understanding of the available options becomes paramount. This consideration often extends beyond mere financial calculations; it encompasses legal implications, market conditions, and personal motivations. Taking time to weigh these elements helps in making a sound decision.

Importance of Weighing Options

In the fluid world of real estate, each choice carries its weight. Individual circumstances vary greatly; some homeowners find themselves in a tight spot, pressed to sell due to job relocation, health issues, or even the prospect of more favorable investment opportunities. For others, it might be about capitalizing on a hot housing market or reducing maintenance costs associated with an older property.

By weighing options carefully, sellers can better evaluate their equity—what they owe versus what they might gain. They can also review their financial obligations:

How much is the mortgage balance?
What does the current market dictate regarding selling prices?
Are there potential tax implications that cannot be overlooked?

Understanding these elements leads to informed decisions that align with long-term goals. A home, after all, isn’t just a physical structure; it’s an asset that carries potential implications far beyond the immediate sale.

"To sell or not to sell isn't the only question—it's about knowing why, when, and how to make that decision."

Final Thoughts and Recommendations

For any homeowner considering a sale under these circumstances, here are several recommendations:

Consult with Professionals: Engaging real estate agents or financial advisors knowledgeable in your local market can reveal insights you might overlook. They can guide through the nuances of both the selling process and mortgage considerations.
Understand Your Financial Standing: Before making a decision, crunch the numbers. Know what your remaining mortgage balance looks like compared to potential sales price. Doing this groundwork can ease concerns related to negative equity or potential financial loss.
Consider Timing: Real estate markets fluctuate. Timing your sale to coincide with peak buying seasons can maximize your return. Pay attention to local market trends and forecasts.
Explore Options Beyond Traditional Sales: If the numbers don’t make sense for a traditional sale, other methods like lease-to-own agreements or short sales may provide pathways that better suit your situation.

Ultimately, the decision to sell a home while still tethered to a mortgage can feel daunting. With careful consideration and the right strategies, however, homeowners can navigate these waters effectively, making choices that serve both their immediate needs and future aspirations.

More wonderful Stuff:

Guidance on Filing for 501(c)(3) Status Introduction

Selling a House Before Paying Off the Mortgage

Intro