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Pay Off Mortgage?
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<blockquote data-quote="Empty Pockets" data-source="post: 5641418" data-attributes="member: 77481"><p>The question seems simple when you just look at numbers, but the numbers do not tell all. How many of y'all suggesting to invest the money paid off your mortgage? Paying off 100 grand of mortgage is about a 100 grand savings over the duration of the mortgage. It is easy to say one way or the other but how many of you have been in that situation and chose? I was in that situation and chose to pay off mortgage and I am not a slave to the lender. Paying off your mortgage gives you a sense of freedom that you will never feel again, like "Chasing the dragon." The advice I was giving was exactly what I did and would do again. Talk to a financial professional. If it was such a good deal, everyone would be taking out second mortgages on their home to invest.</p></blockquote><p></p>
[QUOTE="Empty Pockets, post: 5641418, member: 77481"] The question seems simple when you just look at numbers, but the numbers do not tell all. How many of y'all suggesting to invest the money paid off your mortgage? Paying off 100 grand of mortgage is about a 100 grand savings over the duration of the mortgage. It is easy to say one way or the other but how many of you have been in that situation and chose? I was in that situation and chose to pay off mortgage and I am not a slave to the lender. Paying off your mortgage gives you a sense of freedom that you will never feel again, like "Chasing the dragon." The advice I was giving was exactly what I did and would do again. Talk to a financial professional. If it was such a good deal, everyone would be taking out second mortgages on their home to invest. [/QUOTE]
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