We (family of 3) have decided to settle in US after being here for 3 years. Before coming here, I bought a flat, took home loan for 600,000 Rs. Parents live in the flat, so selling it is out of question. I have to keep paying off 6000 Rs. per month for next 20 or more years. I have @ 10K $ saved till now and have a target to save 20K $/year hereon. 'Personal finance mantra' says (recently started reading on PF), first pay off debt, then start saving. Should I try to pay off the loan by balloon payment, as much as I could, since its not helping me for tax any more? Or should I save money, invest it in US?
2007-08-12
03:02:57
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5 answers
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asked by
Tejas
1
in
Business & Finance
➔ Personal Finance