I know there are good arguments for not paying off mortgage with low interest

Dec 18, 2024
11:43:00am

Hoopster All-American

rate, but, I paid off my mortgage as soon as possible (13 years) for the great feeling of being completely out of debt. That opens of lots of opportunities for other things you can do with the mortgage money.

This message has been modified

Originally posted on Dec 18, 2024 at 11:43:00am

Message modified by Hoopster on Dec 18, 2024 at 12:23:54pm

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Hoopster

Bio page: Hoopster
Joined: Apr 1, 2004
Last login: Dec 18, 2024
Total posts: 13,952 (646 FO)

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Messages

Author

Time

POLL: Is your home (primary residence) already paid off?

Pollster QB2

11:04am

I have 27 more years locked in at 2.625%, why would I pay that off?

Gente_Boa

11:05am

Depends. How much is it worth to flex that your house is paid off?

maxpowers

11:40am

Having it paid off would be costing me $26,550 per year

Gente_Boa

1:36pm

Agreed, I'm in the same boat at 2.75%, doesn't make sense to pay it off

therock

1:34pm

Do you like paying hundreds of thousands of dollars to the bank in interest?

Covid-19

4:02pm

Would have but refied 100k at 2.75% a few years ago. Still trying to decide if I regret that or not.

timpjynx

11:09am

If I did, for some reason, pay my house off… I’d just sell it and

Pretorian

11:13am

I know there are good arguments for not paying off mortgage with low interest

Hoopster

11:43am

"Completely out of debt" - until the tax bill comes.

Pollster

11:44am

Property taxes are with you with or without a mortgage and the tax deduction for

Hoopster

12:14pm

Sure and if you had invested that money you would have even better opportunities

johnnybyu

12:26pm

^^^^

Pretorian

1:57pm

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