For most people their mortgage is the largest single debt that they have and it can be tempting to resolve that debt as quickly as possible. Still there are pros and cons to paying off your mortgage early. Paying off your mortgage can save you years of interest while freeing up money for other things such as travel and retirement. Lowering monthly expenses can even make it possible to retire earlier than expected. However there are drawbacks as well. you will lose the tax deduction you usually take on your mortgage interest. It can also negatively affect your credit score as mortgage debt is considered positive debt adding the type of variety to your loans that creditors look for. It would be nice to have a crystal ball yo gaze into to see what our financial future holds for us . When your crystal ball seems cloudy and is not forthcoming with the answers call us :)!!!
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