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re: When to pay off the mortgage
Posted on 9/16/22 at 8:29 am to Niner
Posted on 9/16/22 at 8:29 am to Niner
quote:At the end of the day, being secure in my home and property and reduced monthly budget going forward has a value. Hope to have mine paid off in 5-7 years.
I have worked with dozens of clients who have decided (sometimes at my recommendation) to pay extra on their mortgage and not a single one has ever regretted it. Peace of mind that comes with no mortgage in retirement is tremendously valuable. Having equity to provide flexibility for future purchases is valuable as well.
1
Posted on 9/16/22 at 7:18 pm to tigerfoot
quote:
At the end of the day, being secure in my home and property and reduced monthly budget going forward has a value. Hope to have mine paid off in 5-7 years.
paid mine off 11 years ago. yes i had a high rate and did not owe alot left and no it was not worth the refi closing costs so i paid it off. has paid off in spades. however for anyone who owes a ton with a low rate just milk it for now. pay off everything else. different people have different situations.
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