Reply to What percent equity do you have on your home?

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[quote=Anonymous][quote=Anonymous]38, 70%. Not sure whether to continue paying it off aggressively since everyone says that's a stupid choice.[/quote]

There's a big difference between having 20% equity (the down) and 70% equity. At the latter you are probably also in a position to pay it off outright with other funds, or if emergencies happen and you need to sell, you have a lot of equity left after the sale. You can withstand temporary market declines, not face foreclosure threats so much.

I could pay off my mortgage tomorrow but those funds remaining in the market in the last few years have made me far, far, far more money than any savings from not paying interest any more, plus I still get to deduct the interest from my taxes.

Right now my mortgage is such a small share of my income (it's about 20% of my take home) and out of that monthly payment part of it is still the property taxes and insurance, which would continue to be paid even without a mortgage. Rationally, there's no benefit to paying off the mortgage early. And, as a PP pointed out, even if you have no mortgage and "own" your house outright, you're still on the hook for taxes and insurance, plus the never ending home maintenance. [/quote]

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