Q: When should you pay off your mortgage?
A: When the bank tells you to.
That’s the simple answer!
But, you need to understand why you might be asking that question: is it because you expect to feel a stronger sense of ‘security’ when your home is paid off? That seems to be the common expectation, and is a position widely adopted in the popular financial press i.e. pay off your mortgage early.
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Now, isn’t that interesting?