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<p>[QUOTE=&quot;Blaubart, post: 1669617, member: 37498&quot;]Nowdays, I disagree with the order of steps 4 &amp; 5 above.</p><p><br /></p><p>With the current interest rates, and the fact that the interest on a home loan is tax deductible, it doesn&#039;t make too much sense to skip investing to pay off your mortgage faster.&nbsp; I say if you have the lowest interest rate possible on a 15 year mortgage, just pay the minimum payment and invest any extra money you have left over once steps 1-3 have been met.</p><p><br /></p><p>Over the past 100 years or so, investments in small business stocks have averaged 11%.&nbsp; 15 year mortgage rates are currently around 2.75%.&nbsp; Why forego those kind of returns to pay off a tax deductible loan at such a low interest rate?&nbsp; As long as you are in a good financial position to do so, now is a great time to leverage the bank&#039;s money in your favor.&nbsp; :thumb:</p><p><br /></p><p>But, all that being said, I&#039;m a big fan of being debt free and I can&#039;t wait to pay off my own mortgage.&nbsp; I am following my own advice above and paying it off on schedule and no faster, but I will not be taking out a second mortgage or refinancing to get more money so I can further leverage the bank&#039;s money for investment purposes.&nbsp; If you get too greedy, you might end up upside down in your mortgage and then you don&#039;t have as many options if you run into an unexpected hardship.[/QUOTE]</p><p><br /></p>

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