Reasons to not pay off your mortgage early

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Real Estate

Being debt-free is a good feeling, while living under a mountain of debt is not. It's reasonable that many people aim to get out of debt as soon as they can, and it's actually imperative that those with high-interest-rate debt, such as credit card debt, pay that off pronto.

However, not all debt needs to be paid off as quickly as possible. For example, there's a good case to be made for sticking with your regular mortgage payments and not aiming to retire that debt too soon.

Good debt vs. bad debt
Don't assume that all debt is bad. When managed well, debt can be quite useful, such as when it helps you buy a home, or a car, or go to college. If you're saddled with debt because you borrowed a lot of money charging things you can't afford on your credit card, or you took out a home equity loan you'll have trouble repaying because you wanted to renovate your kitchen, that's not so good.

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