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Reply to "Why not pay down the mortgage?"
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[quote=Anonymous]One factor in favor of paying it down is peace of mind. There is a benefit to the satisfaction of having your debts all paid off. The factor against paying it off is that money is now "tied up". Let's say you have $100k cash. If it's in a CD, you can easily withdraw it should some emergency expense arise. If it's instead put towards a mortgage, you can't _easily_ (like on a moment's notice) get access to it, though you could get a home equity loan (and you can set that line of credit up in advance). The people saying put it in the market are usually considering in the long-term. If you may need the money in the next 5 years, the market is probably too risky for you. History has shown it goes up over time in the long term, but not always in the short term. So if you put it in there now, and you need it 2 years from now, maybe it'll be worth 20% less and you may not like that. I'd say pay it down while keeping enough cash around for an emergency.[/quote]
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