Why would we want to pay off our mortgages?
by 
keithold thanks all baggers
ANSWERS: 4
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Because you'd "own" your home then and because the house would cost more in rent in the long run and rent is dead money my friend. My opinion.
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Paying off your mortgage technically will save you on interest payments, which on a house worth 1 million could rougly total 250,000 or more.
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You save sooooooooooo much interest if you pay your mortgage off as early as possible. For that reason only ... it's worth it.
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So that the one who gave you loan doesn't come after to beat you out to plunder you for his money.
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