Quote:
Originally posted by Nathans_Dad
A house is a place you live, not a place to stash your money. I have always been an advocate of putting as little money into your house as possible for the simple reason that the percentage of equity that you have in your house has zero to do with whether your house appreciates in value or not.
The idea of paying off a house comes from a time when mortgages rates were much much higher than they are today. If you were paying 12% on a mortgage you would pay it off too. Not so when you are paying 6%.
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exactly right... our mortgage rate is 5.25% fixed for 30 years. we can pay off our house but we can get a better rate of return on our money somewhere else.