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Remember When It Was Time To Pay Off Your Mortgage?
Link: http://www.joansather.com
There was a time when homeowners, after owning their property for 25 to 30 years, looked forward to FINALLY having their mortgage paid off. "Free and clear" was the goal. Some people even celebrated by burning the deed to their home. Now, things are different.
(2008 Comment)This article was written in 2004 and offers some great advice. If more people had listened we wouldn't be in today's mortgage meltdown.
Follow up:
Today's diverse mortgage choices offer so much to those with average and above-average tolerance to risk. Some homeowners even refinance or have home equity lines of credit for the sole purpose of investing the funds.....
....In today's financial environment, the question is: "What is best?" The answer is easy: It depends on your level of debt comfort.
(2008 comment) Obviously, a bunch of people mis-calculated their comfort level. One of the reasons you rely on a realtor like Joan Sather is to give you the facts so you can make intelligent choices, knowing full well the consequences of your actions.
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