Check Out These Special Offers From Our Affiliates! 

Conventional wisdom says, "Don't pay off your mortgage early." Are you foolish to consider an early payoff? Absolutely not! By adding just $50 to $100 to your mortgage payment every month, you can save thousands of dollars in interest, pay off your loan quicker, and eliminate a major monthly expense.

The argument usually given against paying off a mortgage early is that you can make investments with your extra cash, such as mutual funds, stocks or bonds, which pay higher returns. This approach enables you to take the mortgage interest deduction and have easy access to your money, in case you need it. These are all definite pluses, but are not guaranteed savings results.

Any extra income which an investment might generate above your home equity appreciation can be offset by a bad year in the investment market. Investment earnings can virtually eliminate the income tax advantage of your mortgage interest deduction, since stocks and bonds are likely to generate a fair amount of dividends, interest income and capital gains.

It isn't as simple as conventional wisdom--consult a financial expert.

	See All Tips In The "Financing Your Home" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

The Rosemary West Team
RE/MAX Realty
221 Springfield Ave.
Joliet, IL. 60435
Phone: 815-729-1814
Fax: 815-729-1878
Email: rosemarywest@NUMBER1EXPERT.com

www.RosemaryWestTeam.com is brought to you by The Rosemary West Team
NUMBER1EXPERT™ in real estate for Naperville, Plainfield and Joliet, Illinois

Read The Rosemary West Team's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge