There is an interesting article on AskMen.com about why you should pay off you house.
1. Emotional Well Being
2. Risk Abatement
3. Financial Sensibility
I've often thought the risk of losing the house if you encounter financial hardship like losing your job, a family death or other form of un-preventable event was cause enough to have your house paid for. Others around me have disagreed.
The article gives an example of the common mis-conception you should have a house payment so you have something to claim on your income taxes, hardly a wise financial decision. The numbers do not lie.
The best way to pay down your mortgage early is to pay at least 10% more toward the principal amount with each payment.
Read the entire article HERE
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