Comments on: To prepay or not prepay (the mortgage, that is) http://advancedpersonalfinance.com/to-prepay-or-not-prepay-the-mortgage-that-is/ Moving beyond the basics Fri, 09 Jan 2009 15:34:49 +0000 http://wordpress.org/?v=2.2.2 By: Your FeedBlitz Updates http://advancedpersonalfinance.com/to-prepay-or-not-prepay-the-mortgage-that-is/#comment-366 Your FeedBlitz Updates Mon, 23 Jul 2007 20:51:50 +0000 http://advancedpersonalfinance.com/to-prepay-or-not-prepay-the-mortgage-that-is/#comment-366 <!--%kramer-ref-pre%-->[...] I’ve pointed out a couple of times before, I believe strongly in paying off a mortgage as soon as is reasonable. By that I mean sending extra money each month toward principal curtailment or any of the other [...]<!--%kramer-ref-post%--> Kramer auto Pingback[…] I’ve pointed out a couple of times before, I believe strongly in paying off a mortgage as soon as is reasonable. By that I mean sending extra money each month toward principal curtailment or any of the other […]

]]> By: Advanced Personal Finance » Blog Archive » Use a HELOC to Invest In the Stock Market http://advancedpersonalfinance.com/to-prepay-or-not-prepay-the-mortgage-that-is/#comment-344 Advanced Personal Finance » Blog Archive » Use a HELOC to Invest In the Stock Market Wed, 18 Jul 2007 12:03:52 +0000 http://advancedpersonalfinance.com/to-prepay-or-not-prepay-the-mortgage-that-is/#comment-344 [...] I’ve pointed out a couple of times before, I believe strongly in paying off a mortgage as soon as is reasonable. By that I mean sending extra money each month toward principal curtailment or any of the other [...] […] I’ve pointed out a couple of times before, I believe strongly in paying off a mortgage as soon as is reasonable. By that I mean sending extra money each month toward principal curtailment or any of the other […]

]]> By: Advanced Personal Finance » Blog Archive » How to Pay Down Your Mortgage Faster http://advancedpersonalfinance.com/to-prepay-or-not-prepay-the-mortgage-that-is/#comment-336 Advanced Personal Finance » Blog Archive » How to Pay Down Your Mortgage Faster Mon, 16 Jul 2007 12:00:21 +0000 http://advancedpersonalfinance.com/to-prepay-or-not-prepay-the-mortgage-that-is/#comment-336 [...] believe the piece of mind that will come with owning my home outright outweighs the amount we’ll be ‘missing out [...] […] believe the piece of mind that will come with owning my home outright outweighs the amount we’ll be ‘missing out […]

]]> By: Micah http://advancedpersonalfinance.com/to-prepay-or-not-prepay-the-mortgage-that-is/#comment-101 Micah Tue, 01 May 2007 09:48:32 +0000 http://advancedpersonalfinance.com/to-prepay-or-not-prepay-the-mortgage-that-is/#comment-101 I guess I understand the piece of mind if you're old, expecting a drop in income, or saddled with other debt. For me, there's a lot more piece of mind in saying "I'm 24, I live in a 200,000 house that fits me and my family in relative comfort and I pay less a month that if I was renting it. Not only that, I have a good bit of money in the bank that I can use if I need it without needing to sell or otherwise jeopardize my family staying in this house." That, to me, is much greater piece of mind than saying "I only owe $50k on this $200k house, but I have no savings." Let's be realistic. The mortgage company is NOT going to come boot you out of your house and wave the title in your face as the cops drag you off the property! There isn't really anything to be "out from under" other than a delay over a long period of an extremely large expense. I guess I understand the piece of mind if you’re old, expecting a drop in income, or saddled with other debt. For me, there’s a lot more piece of mind in saying “I’m 24, I live in a 200,000 house that fits me and my family in relative comfort and I pay less a month that if I was renting it. Not only that, I have a good bit of money in the bank that I can use if I need it without needing to sell or otherwise jeopardize my family staying in this house.” That, to me, is much greater piece of mind than saying “I only owe $50k on this $200k house, but I have no savings.”

Let’s be realistic. The mortgage company is NOT going to come boot you out of your house and wave the title in your face as the cops drag you off the property! There isn’t really anything to be “out from under” other than a delay over a long period of an extremely large expense.

]]> By: bluntmoney http://advancedpersonalfinance.com/to-prepay-or-not-prepay-the-mortgage-that-is/#comment-28 bluntmoney Sat, 14 Apr 2007 03:27:51 +0000 http://advancedpersonalfinance.com/to-prepay-or-not-prepay-the-mortgage-that-is/#comment-28 I'm with you on it being worth it for the peace of mind. To me paying off our mortgage symbolizes freedom. There's just something about being able to say that "I don't owe any money to anyone at all" that really appeals to me. We don't get a tax benefit from our mortgage anyway. Now, if someone GAVE me $107,000, I probably would invest it instead of plopping it down in one lump sum to pay off our mortgage, but that's a different story. And I'd still pay the mortgage off early. I’m with you on it being worth it for the peace of mind. To me paying off our mortgage symbolizes freedom. There’s just something about being able to say that “I don’t owe any money to anyone at all” that really appeals to me. We don’t get a tax benefit from our mortgage anyway. Now, if someone GAVE me $107,000, I probably would invest it instead of plopping it down in one lump sum to pay off our mortgage, but that’s a different story. And I’d still pay the mortgage off early.

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