Q: "I will retire shortly at 65 and still owe $67,000 at 6 percent on my mortgage, which I have not been able to refinance because I can’t document enough income … the mortgage still has 10 years to go, and the payment is $744. My house is worth $250,000 and I have savings of $300,000, which earn about 2 percent taxable income. Should I pay off the mortgage, let things ride, or is there another option?"

A: You actually have three options:

1. Let things ride.

2. Pay off the balance out of savings.

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