Check Out These Special Offers From Our Affiliates! Just for you from the affiliates of our web site! Please take advantage of the following special offers...  
 |
Financing Your Home >Home Free
Conventional wisdom says, "Don't pay off your mortgage early." Are you foolish to consider an early payoff? Absolutely not! By adding just $50 to $100 to your mortgage payment every month, you can save thousands of dollars in interest, pay off your loan quicker, and eliminate a major monthly expense.
The argument usually given against paying off a mortgage early is that you can make investments with your extra cash, such as mutual funds, stocks or bonds, which pay higher returns. This approach enables you to take the mortgage interest deduction and have easy access to your money, in case you need it. These are all definite pluses, but are not guaranteed savings results.
Any extra income which an investment might generate above your home equity appreciation can be offset by a bad year in the investment market. Investment earnings can virtually eliminate the income tax advantage of your mortgage interest deduction, since stocks and bonds are likely to generate a fair amount of dividends, interest income and capital gains.
It isn't as simple as conventional wisdom--consult a financial expert.
|
|
| Q |
What famous example of post-colonial architecture is modeled after the palace of the Duke of Leinster in Ireland?
|
| A |
The White House in Washington, D.C., begun in 1792 and burned by the British in 1814, was rebuilt in 1818 and restored in 1951.
|
 See More Real Estate Trivia > |
|
|
- NUMBER1EXPERT™ 
