There are many who dream of the economic peace of mind that means winning one of the great prizes that are distributed next Tuesday December 22 in the Extraordinary Christmas Draw.
A trip, buying a house or a car … it all depends on the money you manage to earn. However, it is important to think well in what to invest the money before making a decision and spending it.
One of the most recurrent options when it comes to assuming what to spend the lottery money on is to finish paying the mortgage, one of the most important expenses in many families.
Should you spend the money to pay the mortgage?
The answer to this great question is it depends. According to the experts in Banking Law from reclamador.es, You have to study the year of signing the mortgage loan to determine whether or not it is worth using the lottery prize to pay off the mortgage in whole or in part.
According to the online legal services company, if the loan was signed before 2013 it is very likely that it is not the best option in which to invest the premium, since those mortgaged with loans prior to January 1, 2013 can be deducted 15% of the amount paid per year for the mortgage, with a maximum of 9,040 euros.
When the mortgage loan is after that date, it would also be necessary to study the commissions that the consumer should pay to amortize or cancel the mortgage, which can reach 0.50% of the outstanding loan if it was signed less than five years ago.
On the contrary, if they should not be paid or are very low, It is possible that in this case it may be interesting to invest the prize of the draw of December 22 to pay off the mortgage, but for this it is essential to have expert advice before taking any steps.
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