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re: When does it make sense, mathematically, to accelerate mortgage payments?
Posted on 12/6/23 at 10:31 am to rpg37
Posted on 12/6/23 at 10:31 am to rpg37
quote:
I am well aware that speeding up the homes at 4% and less is dumb. Is 6.5% high enough to speed up or should I just continue paying them, take advantage of the interest deduction in April, and keep maxing what I can into stocks?
In my opinion, there is never a time that paying off your mortgage early is considered dumb.
1
Posted on 12/6/23 at 10:38 am to HeartAttackTiger
quote:
In my opinion, there is never a time that paying off your mortgage early is considered dumb.
Dumb might seem harsh, but mathematically sound may be a better way to frame it.
That being said, people make emotional choices with money all the time, so paying off a house is no different. The question should be whether paying off a home early impedes your other financial goals. Most people unfortunately consider these things in a vacuum.
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