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repay the loan in 3 years

Submitted by on Tue, 11/23/2010 - 02:38
Posts: 202330
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Our total loan balance is $150,000. The market price of our home is about $190,000. We don't have other debts. By selling our house, we can purchase a small home. By using the money that we will get from selling the house and putting some more money with it, we only have to finance about $35,000 on the new house, and we can pay that off in about 3 years. Is it the right thing to do?