January 4th, 2008
Millions Now Love Their Mortgage Even Though It Requires Monthly Payments
If you had enough money right now to pay off your mortgage, would you? Most Americans would, since that has always been the American Dream. The reality is that following the “old” dream can be detrimental to your financial health. In fact, millions now love their mortgage because it is working for them.
Let’s start with the reasons why the goal may be to pay off the mortgage. Many financial advisors/planners and other “experts” advise paying off the mortgage to reduce risk. ThePersonalFinance.com even runs articles advocating this “risk” management, and will lead you to believe that paying off your mortgage and doing so as fast as possible would be the best thing for you.