I had a debate (with the family) about this and wanted get other opinions... Let's say you own a home that still has a decent sized mortgage (or were looking to buy a home) and you came across a large sum of money (either in an inheritance or by winning the lottery, etc.) - Now let's say this money is just over what you owe on the home - or if you were looking to buy, the money was just over what you'd need to buy the home without a mortgage. For example, let's say you still owe $200K on your home and you win $250K - or let's say you want to buy a $300K home and you win $350K... Now what would you rather do? Use the money to completely pay off the home (i.e. and no longer have a mortgage) or put the money in the bank and use it to pay off the mortgage every month (basically to gain interest on the money)? Now, I realize a lot of people have other debts that they'd rather use the money for, but I'm just asking about the above two choices...What would you rather do? Obviously, putting it in the bank and collecting the interest sounds nice, but it also sounds nice to have your home COMPLETELY paid off and never have to worry about a mortgage payment. Hmmm? I guess, what I would do is, put the money in a separate bank account and let it collect the interest (provided the percentage was more than my mortgage) and then I'd use an automatic payment process to pay the mortgage every month so I wouldn't have to worry about writing a check every month. What would you do?