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Missed Fortune – Don’t Pay Down Your Mortgage?

Posted on | November 5, 2009

There are a lot of programs to help you pay down your mortgage more quickly than the loan terms specify.

Unfortunately, most of these actually cost you money and time, rather than saving them.

In contrast, Doug Andrew advises clients to keep their mortgage as high as possible. Why? For many reasons, including the following:

  1. It keeps your money liquid and accessible.
  2. It helps you keep your principal safe by protecting you from depreciation.
  3. You can earn a higher rate of return by putting the money that would have gone into extra mortgage payments into investment vehicles.
  4. Most importantly, it gives you lucrative tax advantages.

Many people who have tried to pay down their mortgage principal are now losing their homes to foreclosure. They had no liquidity.

Doug outlines a strategy for paying down your mortgage even sooner, but much safer, than the typical programs.

*If you are getting this feed in RSS or email and cannot see the video, please click on the header to view it on the blog.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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