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Reply to "15 year vs. 30 year mortgage"
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[quote=Anonymous][quote=Anonymous]But if I could confidently make more than 3% on my money, wouldn't it be a smarter investment to take out a 30 year loan, have a lower monthly payment, and invest the money instead in the stock market (again, only if I was sure to make more than 3%)? [/quote] First, explain how you can be "sure" you'll make any rate of return in the stock market? I have $1M in stocks, so I'm not anti-market, but there are certainly no guarantees. Second, the point is to get rid of your mortgage, period. Pay it off as soon as you can. This is why I favor eliminating the mortgage deduction. People shouldn't be rewarded for paying interest.[/quote]
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