"If you paid your mortgage off, it means you probably did not manage your funds efficiently over the years. It's as if you had 500,000 dollar bills stuffed in your mattress."
Wait a second. Let's say interest rates stay at 5.8% and you take out a home equity loan or don't pay off you mortgage, then those borrowed dollars are costing you about 4.5% ( adjusted for tax breaks). If you keep the money under your mattress then it is costing you the price of inflation per year. It is clearly not the same. Shame on Lereah.
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If you paid off your house, bless you. You are no longer dependent on it's value to keep you in the black AND you have something few Americans have - a paid off mortgage.
ReplyDeleteMr McNasty is obvioulsy the product of a Top-Secret, highly classified military inbredding experiment that worked perfectly.
ReplyDeleteDavid, you have to stop reading dailykos and other loony left sites, their style of hyperbolic moralistic rhetoric is seeping into your posts. "Shame on" him? Just point out how he's wrong and move on. What purpose is served by "shaming" the man? Also, you are pretty (over)confident in many of your predictions: "A soft landing will NOT happen. There will be a bang. A hard landing scenario is inevitable." I guess, if you turn out to be wrong, I can say "Shame, shame" on you, right?
ReplyDeletePaying off your mortgage is a very safe move. If you have other investment opportunities that will yield more than the interest rate on your morgage, then it is better to keep the mortgage and make the investment. One must consider the investment risk relative to the additional return.
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