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Message
re: Mortgage/Refinancing question
Posted on 4/15/10 at 7:45 am to C
Posted on 4/15/10 at 7:45 am to C
quote:
You are getting back 3-5% by paying it off early. Whats not to like about that? Better than any savings or most cds.
A CD is not the right comparison. A mortgage is (in this case anyway) a 30 year investment. You should therefore compare with a 30 year investment in a diversified portfolio in a tax-advantaged account.
You don't compare with a 1 year CD unless you are borrowing at 1 year terms.
Posted on 4/15/10 at 7:48 am to foshizzle
When I got my first mortgage I was faced with the choice of prepaying the note or investing in the company stock. The company matched me dollar for dollar up to a certain amount, the obviously correct decision was to not pay the mortgage and get the instant 100% ROI in the stock.
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