Proceeds of sold home, need advise

[dgogette]

We just sold house #1 this past week. We currently have two other homes that still have mortgages. My question is: What would be the most advantageous to us as to the proceeds of the first home. We have enough to pay off the entire mortgage of one of homes, but would that be a wise thing to do?Any advise or ideas?

[TJ2007]

That is a very expansive question...guess depends on the types of mortgages you have and how the market is doing in your area.

Personally considering the current market in most areas of the US I would not want to lock that cash up...unless of course you are rolling in liquid cash and have nowhere else to put it.

I would take it and invest in another market out of the US where property appreciation is currently much higher....