hypothetical question, use cash or finance
Own first home outright worth $100k. Want to buy 2nd home (vacation) for $100k.
On good fixed income. Got out of the stock market in 07 and put $500k in bank CD's (now earning whopping 1%). Afraid to get back in market.
Can get mortgage for 4 3/4% 30yr. fixed.
Should I pay cash or mortgage? If you say mortgage, where do I put the remaining cash?