5 Reasons Why You Should Consider Accelerated Mortgage Payoff

There are many reasons for and against deciding weather or not to accelerate your mortgage payoff. We will explore the top five most common arguments for and against this case and discover why it might be a good idea after all to payoff your mortgage as early as possible.

[b]Coby[/b]

Case Number 1:

You are somebody that has a very successful career and you income will always allow you to pay for your mortgage.

The Truth:

If you take a look at proven statistics you will not see this to be true. We all know that there is no such thing as job security and we can lose our secure incomes at any time. There are too many random uncontrollable events in life that can cause you to lose your job at any given moment.

Case Number 2:

I don't want to payoff my mortgage because it is tax deductible. The more I owe on my mortgage the more in tax savings I will get.

The Truth:

You save 27 cents for every dollar of mortgage interest that you pay. If you did not have your mortgage and paid it off you would still have 73 cents.

Case Number 3:

I not worried about it, I am always going to be able to pay my mortgage for 30 years or whatever the life of the loan is.

The Truth:

In life you can always be optimistic and hope for the best, but you still need to plan for the worst. Don't get sucked into a false sense of security that leaves you with no backup plan for unforeseen future events.

Case Number 4:

The industry that I work in is very stable.

The Truth:

Everyday this is becoming further from the truth. The reality is that because of Globalization more industries are becoming affected with less jobs and smaller incomes.

Case Number 5:

I have the skills that will allow my income to grow in the future.

The Truth:

In this day and age are you going to be able to compete with younger college graduates if you lost your job. These people will have the same skills as you and are willing to work for less money.

These are just a few of the main reasons why you should consider accelerated mortgage payoff. It's always better to payoff your home as fast as possible so you can start saving for retirement and build equity in your home. Unfortunately sometimes things don't go as planned as we want them to in life and a safety net is always a good idea to build.

5 Reasons Why You Should Consider Accelerated Mortgage Payoff

Visit Coby's website at [http://www.BasicMortgageAdvice.com] and sign up for his free e-course on mortgage secrets that lenders hope you don't find out about. Learn more about mortgage acceleration payoff programs and watch the free video at [http://www.MortgageMagicSoftware.com]