Sentences with phrase «n't pay off your mortgage»

Today we're diving into those thoughts and feelings, and — because we got so many questions about it — diving into why we did pay off the mortgage on our house but why we're not paying off the mortgage on our rental anytime soon.

If you can make enough ROI from the capital you retain by not paying off your mortgage, then why not?

As for those who say people will spend the money if they did not pay off the mortgage first, what about when the mortgage is paid off where will the extra money go then?

Many uninformed people ask, why wouldn't you pay off the mortgage?

Consumers who never missed a rent or utility payment, then, often found themselves with no credit because they weren't paying off mortgage loans, credit cards or auto loans.

Opinions differ on whether or not paying off a mortgage early is the best financial move, so you will have to weigh the options and decide for yourself if it is the right move for your family.

Tresidder, the founder and financial coach at Financialmentor.com, isn't as demanding about not paying off a mortgage these days, even after losing a fortune paying off his condo.

Given that most homeowners opt for a traditional 30 - year mortgage, it's no wonder that so many Americans haven't paid off their mortgage quite yet.

If they rise, not paying off the mortgage offers a chance for your cash to earn a greater return and the value of the low interest rate loan is worth more.

While the arguments for early payoff are good, there are equally strong arguments suggesting you shouldn't pay off your mortgage early.

MoneyWatch details the reasons why you shouldn't pay off your mortgage — then the author tells why he paid it off anyway.

For retirees that haven't paid off their mortgage, housing costs can top the list of largest monthly expenditures.

You can learn more about why you should not pay off your mortgage by watching the video on our mortgage page.

There is nothing wrong with these policies, per se, but you should know they will not pay off your mortgage if you die.

It is also not a form of mortgage protection, so even though you can use your illness pay - out to pay mortgage payments if you wish, it does not pay off your mortgage.

In the cases of disability or unemployment, the insurance typically makes the mortgage payment for a set period of time and does not pay off the mortgage.

Paying off the rentals you also lose possible appreciation and depreciation spread over additional rentals you could require if you didn't pay off the mortgages.

@George P. - There are SOME good arguments for not paying off a mortgage.

Not exact matches

She moved in with a friend and was able to pay off her mortgages, but she couldn't make much of a dent in her credit card debt.

«For people who have the risk tolerance, investing that money rather than paying off the mortgage is fine, but think about what would happen if the investments don't pan out and you still have to pay your mortgage,» says Craig Brimhall, vice president of Wealth Strategies at Ameriprise Financial.

Paying off your mortgage may feel good, but that doesn't mean it's right for your financial plan.

She definitely would not have agreed to the early mortgage pay off with no money to decorate.

(The $ 100 extra payments ain't too shabby either;) I've been rounding up our mortgage payments to the 2nd hundredth ourselves and it's amazing how much gets paid off over the years...)

Rent a suite in the basement to pay the mortgage, keep working up the ladder every 10 years as your equity increases, don't worry too much about paying the mortgage off, and never be out of the market.

Paying off the mortgage 15 years sooner is not their concern.

However, if you want enough coverage to send a child to college or pay off a mortgage, guaranteed acceptance insurance won't provide a large enough death benefit.

These «savers» were not permitted to spend their savings in a discretionary way — for instance, using it to buy their homes or pay down their mortgages or even to pay off their higher - interest credit - card debt.

And, consider that your mortgage may not be paid off or you acquire a new mortgage.

Comment: After paying off $ 815,000 in mortgage debt in June, I wasn't motivated to pay more debt down.

What are your thoughts, am I too conservative and should I not be focused on paying off mortgage?

If you have the means, you should definitely consider paying off your mortgage early, especially if your interest rate is on the high end and don't have other investment strategies in place.

It does kind of bum me out that I may have lost a small opportunity to take advantage of bearish markets but no sense in kicking myself too hard, it doesn't bother me as much as it used to and I think that's because amidst not being able to purchase discounted blue chip stocks, I ended up buying a house with help from my parents, and now I am a home owner with no mortgage (just a debt to my parents which I hope to pay off ASAP).

If you aren't planning to stay in your home long enough to pay off the mortgage, you might not recoup the upfront costs at all.

School loans and mortgages aren't as critical to pay off quickly because of tax deductions.

Most importantly, reverse mortgage loans don't have to be paid off until the home is sold or until the borrower no longer lives in it.

Mortgage payment fund: Whether or not your survivors would use life insurance proceeds to pay off the mortgage right away, creating a fund to cover mortgage payments makeMortgage payment fund: Whether or not your survivors would use life insurance proceeds to pay off the mortgage right away, creating a fund to cover mortgage payments makemortgage right away, creating a fund to cover mortgage payments makemortgage payments makes sense.

At this point my investments are not sufficient to pay off my mortgage.

The part I struggle with is that ultimately the mortgage constitutes leverage whose value works for me if the market appreciates (woohoo the money I didn't pay the mortgage off with appreciates in the market), and against me if the market declines (aww shucks — the money I didn't pay the mortage off with is worth less now cause the market is down).

As long as your income doesn't drop, you don't have other unexpected expenses (like medical bills) and your mortgage is affordable to you when you purchase the home, you shouldn't have a problem paying off the loan.

In a perfect world, everyone would enter retirement with a paid - off mortgage, zero debt, and a nest egg large enough to ensure they...

If you can earn 5 % or more from stocks, an IRA, or 401 (k), it doesn't make financial sense to pay off your mortgage early.

Postponing saving for retirement until after the mortgage is paid off can be risky — not only can you run out of time to save enough capital, but for many people, the discipline of saving can be harder when there are other options for consumption.

While the mortgage is certainly the largest and most visible cost associated with a home, there are a host of additional expenses, some of which don't go away even after the mortgage is paid off.

You might get a better return by boosting contributions to your tax - advantaged 401 (k) plan or building an emergency fund (if you don't have one) rather than trying to pay off your mortgage ahead of schedule, said McBride.

By the time you've paid off your mortgage, you will have built quite a nice nest egg, which you can apply toward investments or retirement, or turn into a rental property to create a passive stream of income.

Pay off the mortgage on their house (as recommended by yours truly) and accumulate a nice nest egg close to seven figures.

I won't have that so I see a third option as maintaining a permanent - ish portfolio, then diversifying into property at or near retirement by paying off a buy to let mortgage (unless rising interest rates — or poor returns — have already made this cost effective).

All cash or 0 % down is not worth it IMHO (Unless mortgage rates crash and in that case refinance or pay it off.)

The good news is that loan will be forgiven after 10 years, providing you don't move, sell, refinance or pay off your first mortgage during that time.

If you choose to move, pay off your mortgage early, or refinance mid-term, conducting an APR comparison may not be as useful.