Posted by johndeerefan on March 08, 2014 at 06:38:12 from (63.141.64.250):
In Reply to: paying off mortgage posted by austin carpenter on March 08, 2014 at 06:18:21:
A lot of factors come into play with this. 1) If the money you are using to pay off the mortgage can earn more interest from investing it, I wouldn't pay it off. 2) As stated before, if you don't 100% own, no one can take it from a law suit. Otherwise, it becomes a liquidated asset some greedy sue happy person will take. 3) If you are at the end of your mortgage, there is no tax reason to keep the mortgage. Only the interest is tax deductible and at the end of a mortgage, there is little to no interest.
I will have to agree with Dave Ramsey on this one.....GET COMPLETELY OUT OF DEBT AND LIVE ON CASH FROM HERE ON.
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