Rethinking The Early Mortgage Payoff
Posted January 9, 2009 - 07:41 by Julie Rains
The borrow-at-a-low-interest-rate-and-invest-to-get-greater-returns mentality was so embedded in our belief system that there almost seemed to be a stigma attached to not carrying a mortgage balance forever. Some financial experts indicated that the early mortgage payoff had merely a psychological benefit but no clear financial benefit or worse, a financial disadvantage. I won't tell you what to do because personal financial circumstances vary, and vary greatly over the life of a 15-year or 30-year mortgage. But I'll tell you what some of these experts were thinking and what they forgot to mention when it comes to paying off the mortgage.
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