Thursday, August 28, 2008

The Real Use of My Equity

How do you pay off your mortgage? Following the strategy of "good" financial management? Made a great downpayment and now extra mortgage payments to minimize the borrowing? Do you know that the equity in your home is subject to the housing market changes and can turn out detrimental? Until I decided to become more literate on the subjet, i was more than just responsible with my mortgage payments.
However, financial experts say it's much wiser to maximize the tax-advantage mortgage debt. That's when you make a smaller downpayment and pay only interest on the mortgage loan, you can invest the funds intended for the principle retirement and so benefit much more from the equity.
I cannot say now if i'll risk doing it now. There are some credit cards by the way which would be better managed with some additional funds. But I stll don't know of many successful stories on the subject.

1 comment:

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