Pay Off Mortgage Strategies
Financial advisors would tell you to invest in the stock market and will discourage you from paying off your mortgage as you can get tax deductions for mortgage interest at the end of the year and lower your tax bill.
Tax deductions and higher stock returns are enticing enough to make you decide against paying off your mortgage debt.
But what they will not tell you is that investing in the stock market is a high degree of risk.
Let me prove that to you.
Just tear open up your retirement savings account.
You will see in the last eight months your retirement savings have been slashed by half.
If that doesn't convince you that investing carries risk then I don't know what would.
I'm not advocating for one second that you should not contribute to a retirement savings account.
You should always do that first.
What I am trying to say is that you should spend your extra cash on paying for your mortgage.
Your financial advisor would most likely tell you that you would lose tax deductions if you start paying off your debt.
This is a weak argument.
This should, by no means, hinder you from paying off your mortgage.
Do you know that you can get tax deductions if you donate to charity? So, will you prefer paying off your mortgage early, saving thousands in interest, and using part of those savings to make contributions to charity or just plain tax deductions from mortgage interest? I don't know about you but I'd much rather get a deduction for doing something good than worrying about the deduction for mortgage interest.
The reason why most of us don't pay off all mortgage early or even if we try, we cannot stick with this consistently, is that we don't have a system in place.
Its not your fault that you fall off the wagon and cannot pay your mortgage debt faster even if you tried.
The mortgage acceleration system is one payment method you can use to pay off your mortgage debt.
It uses a home equity line of credit that is converted to a checking account.
It helps you pay off your mortgage debt faster by automatically accumulating interest savings for you every month and uses these savings to pay your mortgage debt.
The mortgage acceleration method allows you to pay off your mortgage 13 years earlier, save thousands of dollars in interest and you won't have to spend more or change your lifestyle while doing it.
Tax deductions and higher stock returns are enticing enough to make you decide against paying off your mortgage debt.
But what they will not tell you is that investing in the stock market is a high degree of risk.
Let me prove that to you.
Just tear open up your retirement savings account.
You will see in the last eight months your retirement savings have been slashed by half.
If that doesn't convince you that investing carries risk then I don't know what would.
I'm not advocating for one second that you should not contribute to a retirement savings account.
You should always do that first.
What I am trying to say is that you should spend your extra cash on paying for your mortgage.
Your financial advisor would most likely tell you that you would lose tax deductions if you start paying off your debt.
This is a weak argument.
This should, by no means, hinder you from paying off your mortgage.
Do you know that you can get tax deductions if you donate to charity? So, will you prefer paying off your mortgage early, saving thousands in interest, and using part of those savings to make contributions to charity or just plain tax deductions from mortgage interest? I don't know about you but I'd much rather get a deduction for doing something good than worrying about the deduction for mortgage interest.
The reason why most of us don't pay off all mortgage early or even if we try, we cannot stick with this consistently, is that we don't have a system in place.
Its not your fault that you fall off the wagon and cannot pay your mortgage debt faster even if you tried.
The mortgage acceleration system is one payment method you can use to pay off your mortgage debt.
It uses a home equity line of credit that is converted to a checking account.
It helps you pay off your mortgage debt faster by automatically accumulating interest savings for you every month and uses these savings to pay your mortgage debt.
The mortgage acceleration method allows you to pay off your mortgage 13 years earlier, save thousands of dollars in interest and you won't have to spend more or change your lifestyle while doing it.
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