Quoted from Hench4Life:Understand the mathematics of it, you get a guaranteed return of your interest rate. However, my mortgage is below 2.5% so I just don't see why I'd put extra money towards paying it off when I can buy almost any dividend stock and get better than 2.5% return...
I'm not old enough for double digit mortgage rates, but my dad always reminds me that his first mortgage was 17%..
Another side of this is that many think of their primary residence as a place that keeps you warm when it is cold, dry when it is raining and the central hub for all things family related. Its not about the money/income/appreciation. Knowing that if everything goes kattywumpus you will still have your house is peace of mind. How much is peace of mind worth?
