I'm still surprised with how many people I talk to on a weekly basis that hold paying off their mortgage as one of their main financial goals. My first question is always why? And I never receive a good response.
While our parents and grandparents worked hard every day to pay off their mortgage, this is not the best use of your money in today's market. I know their is a huge sense of pride to own your house free and clear, but your equity in your house is not making money for you.Also there has been a large marketing campaign recently about a new program in the mortgage industry that will help you pay off your mortgage quicker.
However, if you leverage your equity in the house and invest wisely (and conservatively looking for a 6% return), you would not only be able to pay off your mortgage within 30 years but you would also have hundreds of thousands of dollars in liquid assets.
Your mortgage should be a part of your financial plan that allows you to accomplish your financial goals quicker. For more information on how you can be using your mortgage to help you meet your long term financial goals please call us.
Prosperity Financial - Your Mortgage Manager
Lafayette, CO
www.colomortgages.com www.3bed2bath.net www.myprosperityfinancial.com
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