Mortgage or No Mortgage: Why Your Personal Financial Plan Is Crucial

Whether or not to pay off your mortgage is a very individual decision that is based on a number of factors. My sister and I were having a conversation not too long ago about mortgages as she and her spouse were refinancing their home in Northern California. I was throwing ideas out to her about keeping the original first mortgage they had in place and blasting away the second using a debt elimination tool like Shred My Mortgage. The first mortgage had a healthy balance but a relatively low interest rate and the second mortgage was hovering around $40,000 with …