How many of you would pay off your mortgages if you had the opportunity?
In recent discussions with friends and associates it's come up more often then not. Seems that some feel paying off their mortgages would give them more money monthly, (like an annunity) so that would not feel the pressure of that monthly payment. One guy says he likes the idea of getting money back at years end, because of interest and taxes. My comment is, just the interest and principal you pay doesn't justify the few bucks you get back.It's interesting to hear how others perceive the situation...
Asked By: “Maximus, Minimus” - 4/5/2012
Best Answer - Chosen by Asker
If I had the opportunity I would probably pay off our mortgage early. As it is we're making extra payments on our mortgage every year. I think it's a personal decision, and you need to consider a variety of factors. For me, some of the pros of paying off the mortgage include... More
Answered By: Money Matters - 4/5/2012
Additional Answers (2)
It's not about getting money back when you retire. It's about having one less bill to worry about. You are going to have to explain your thinking on this in your next question.
Answered By: Go with the flow - 4/5/2012
>>One guy says he likes the idea of getting money back at years end, because of interest and taxes... More
Answered By: Monte P - 4/5/2012
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