Five Ways to Pay Off Your Mortgage Loan Faster

Posted by: Rod Kurtz on April 25, 2006

Most homeowners would love nothing more than not to have to put that mortgage check in the mail every month. But trying to pay off your mortgage ahead of schedule is not something to be undertaken lightly. You must make sure you are financially secure, with no other significant debt, and have money in reserve for emergencies.

There are also compelling arguments for not paying off your mortgage ahead of schedule. If you are inclined to take some risks, you could invest the money instead. Your investment could earn enough money to offset the benefit of paying off the mortgage.

To read the full story at AllBusiness.com, click here

Reader Comments

Neil

April 26, 2006 6:53 PM

Quite the contrarian view. Unless you are a financial expert and know how to arbitrage your money by investing in the stock market or other complex financial instruments, I would say the advice of this author does not make sound financial sense. Remember, by building equity in your home you can use this to send your kids to school, have an emergency reserve, etc. Imagine the joy of never making a mortgage payment at the end of every month.

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