To Prepay or Not? That is the Question

Most people’s initial reaction is to eliminate their mortgage debt. Living in your home free and clear can give you a wonderful sense of accomplishment. After all, the bank will not be able repossess your home, and the entire value will count towards your net worth.

However, before throwing yourself a mortgage burning party, there are other considerations. Financially, it may not be in our best interest to prepay the principal on your mortgage under current conditions.

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