Sentences with phrase «of paying off your mortgage»

More from FA Playbook: The pros, cons of paying off mortgages before retirement Swelling ranks of retirees negatively impacting returns Retirement saving remains a challenge for many women

More from FA Playbook: Reports of a retirement crisis are off the mark The pros, cons of paying off mortgages before retirement Swelling ranks of retirees negatively impacting returns

i have 270k in equity in my house, thinking of paying off the mortgage but probably does make sense since my rate is 3.125 on a 30 yr.

Analyze the pros and cons of paying off your mortgage early.

The older guys on here may well relate to the fact that after years of paying off their mortgages, there comes a point when they can / could afford bigger, better holidays etc, as the demands of repayments reduced.

And I'm quite fond of paying off my mortgage.

A benefit of paying off your mortgage as quickly as possible would be that you will help raise your credit rating, which can also come in handy for future best investment (s).

Unfortunately, they aren't presenting the full picture because they totally leave out the opportunity cost of paying off the mortgage early.

On that basis, Shawn, keeping your stocks instead of paying off your mortgage may or may not be the best thing to do.

Urgency isn't the only motivator behind choosing the best direct lender in Gilbert; many people who don't enjoy the thought of paying off a mortgage for 30 + years instead choose to take out a hard money loan in Gilbert for their real estate needs.

I think Life Insurance is important especially if your debt outweighs your net worth - so that you don't have to give the burden of paying off the mortgage to your spouse or loved ones.

During the last few years of paying off our mortgage, the minimum monthly payment we sent to the bank was just over $ 3,000 (we financed to a 15 year fixed a few years ago to take advantage of lower interest rates).

This should also be a consideration when calculating the value of paying off a mortgage vs investments.

Refinancing to a 15 - year fixed - rate mortgage can be attractive, with their very low rates and the prospect of paying off your mortgage much faster.

This risk could be reduced by investing for a much longer period of time - by using debt if necessary - by choosing to invest instead of paying off the mortgage.

Jim Wang of WalletHacks said he also prefers investing his money instead of paying off his mortgage early, which has a 3.625 % interest rate.

@Aaronaught: At RBC, at least, you have the option of paying off the mortgage early (with all the associated penalties), transferring the mortgage to your new house at the old interest rate and terms, or transferring the mortgage to whomever buys your house (again at the existing rate).

Several years ago, my wife and I paid off all of our consumer debt — and we are now in the process of paying off our mortgage.

A large benefit of paying off a mortgage is you save money — lots of money.

But even if someone has the goal of paying off the mortgage early, that doesn't necessarily mean that goal should trump all other financial goals.

The danger of paying off a mortgage early is that the money becomes illiquid, tied up in the house.

Focus on the Benefits: Write down all of the benefits of paying off your mortgage and the freedom you will enjoy at that point.

As a rule of thumb, investing money instead of paying off your mortgage early makes mathematical sense, while paying off your mortgage quickly makes psychological sense.

Out with the old and in with the new... a new way of paying off your mortgage.

The possibility of paying off your mortgage before the 25, 30 or 35 year amortization period is something most only dream of.

Most people like the security of a paid off mortgage.

The concept of paying off a mortgage early is inconceivable by most people, yet it is surprisingly achievable using the same debt snowball technique we used to wipe out the other debts.

Amortization: The process of paying off your mortgage with payments due every month for a certain amount of years.

I agree that a risk of paying off a mortgage early is having substantial sums of capital tied up in the property with a continued mortgage payment still in place until it is paid off.

After all the mortgage is paid in after tax dollars, so wouldn't I be ahead to have as much as possible tax free and pay off any mortgage balance I have from my TFSA when I retire instead of paying off the mortgage early?

There is a lot built into your question of pay off mortgage vs. invest in index funds.

Mortgage interest is also tax deductible, so this needs to be taken into account as well when comparing the value of paying off your mortgage early to save on interest.

I'm sure someone could crunch numbers and calculate how much more I could save by investing or putting the money in a CD instead of paying off the mortgage.

The idea of paying off your mortgage within 10 years is great.

«Even though we always read articles extolling the benefits of paying off your mortgage as quickly as possible, we're beginning to question that strategy because of the low interest rates,» says Marie.

There is an argument that it might be worth taking on higher risk + higher return investments instead of paying off your mortgage, but that is not so clear - cut any more.

Consider if it's important to both of you paying off your mortgage, having an education and emergency fund and final expenses when either of you goes.

Between our salary and bonuses that we each receive yearly, there is a very good chance of paying off our mortgage in 2 1/2 years!

I am a huge fan of paying off your mortgage quickly.

However, some banks will advertise «Accelerated» payments as a means of paying off your mortgage faster.

Upon death, your family has the option of paying off the mortgage or investing the funds.The Bank's mortgage insurance must be used to pay off the mortgage regardless of interest rates and other investment opportunities.

Remember, the policy holder must be in the process of paying off their mortgage or own their home to qualify for homeowners insurance.

This policy was designed with the express intent of paying off a mortgage upon the death of a home owner.

That will absolve your family of the responsibility of paying off the mortgage, but if you had an individual life insurance policy, your heirs would directly receive the death benefit and could decide how to settle your affairs.

Even with a more modest $ 150,000 mortgage, you could still save on the order of $ 1,500 in income taxes taking this deduction in your first year of paying off the mortgage.

What about the 30 + years of paying off the mortgage?

Here, the seller transfers the responsibility of paying off their mortgage to the buyer.

I stopped buying properties using financing, and went on an aggressive program of paying off mortgages.

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.

At first, it was part of their strategy to minimize everyday costs, pay off their mortgage, and invest in passive index funds.