Honest Mortgage Answers

5 Reasons Why You Should Keep a Mortgage and Never Pay it Off

5 REASONS YOU SHOULD KEEP A MORTGAGE AND NEVER PAY IT OFF

Mortgage Planner and author Ric Eldeman urges consumers never to own their home outright or pay it off, regardless of age or income. Here are five reasons why Home Asset Advisor's mortgage planning principles can work for you:

1, A mortgage is cheap money. Mortgages offer you the cheapest way to borrow, so it makes sense to get them the largest loan you can.

2. Mortgage interest is tax-deductible. You can save as much as 35 cents in taxes for every dollar they pay in interest. That means a six percent mortgage loan can really cost as little as four percent.

3. Mortgages will let you clients sell without selling. You don't have to sell your home to realize any increase in equity. They can simply get a new, larger mortgage to acquire the value of the home in cash without having to sell.

4. Long-term mortgages help create wealth. I would like to introduce you to a Financial Planning partner who can show you how to create wealth with longer term, lower payment mortgage loans and equity redistribution.

5. Mortgages give you greater liquidity and flexibility. Their are a lot of fallacy of pre-payments. Extra payments often go directly to principal and offer no tax deduction. Most people can benefit from an interest-only loan, allowing them to invest any additional payments elsewhere for greater return.

If you have any questions or would like to discuss this further, please contact me at the web site or phone numbers listed below.


Thank you,

Jason Lash
Branch Manager
Family Home Lending
866-366-5724
http://www.virtualloanpro.com/
http://www.homecredible.com/
http://www.honestmortgageanswers.com/

Posted by Jason Lash at 9:26 PM