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Registered
Join Date: Jul 2001
Location: Cave Creek, AZ USA
Posts: 44,621
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It depends on your current equity position in the house and how long you want to keep it. If the mortgage payment is no problem for you and you plan to keep the house until it's paid off, then I wouldn't pay down extra principle. Even if you paid it down by 99%, your required minimum payment, taxes and insurance wouldn't change. If you have less than 20% equity and think you may sell in the next five years, then I'd think about paying down the balance.
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