If you’ve signed your life away on a mortgage, you’ve probably dreamed of tossing that paperwork into the shredder after you’ve made the final payment. But outright ownership isn’t all positive.
A post on Little House in the Valley lists reasons that it isn’t so great to pay off your house. You lose your tax shelter, as well as the flexibility of being able to invest the funds you plunged into the mortgage.
If you own a house, what’s your payoff strategy, and long will it take you to pay it off?
Is Owning Your House Outright a Bad Idea? [Little House in the Valley]