Never own your home outright. Instead get a mortgage and never pay it off - regardless of your age and income. ~Ric Edelman, The Edelman Finanical Center
"Last year, Wal-Mart sold several hundred thousand drills to people who didn’t want them. What these people wanted was a hole in the wall. The same is true for your mortgage. You didn’t want that, either. What you did want was a house."
"If you’re like most people, you hate your mortgage, and you’d love to get rid of it as soon as possible. That’s why you put down as much money as possible, you chose a 15-year loan or you make extra principal payments to accelerate the payoff. Although this advice was once correct, it is now completely wrong."
"Before you dismiss this as crazy, read on- I’m about to save you incredible amounts of money. The top 10 reasons to carry a big, long mortgage."
· Reason #1: Your mortgage doesn’t affect your home’s value.
· Reason #2: You’re going to build equity anyway.
· Reason #3: A mortgage is cheap money.
· Reason #4: Mortgage interest is tax-deductible.
· Reason #5: Mortgage interest is tax-favorable.
· Reason #6: Mortgage payments get easier over time.
· Reason #7: Mortgages let you sell without selling.
· Reason #8: Large mortgages let you invest more money more quickly.
· Reason #9: Long-term mortgages let you create more wealth.
· Reason #10: Mortgages give you greater liquidity and greater flexibility
I know, I know...I didn't elaborate enough and really didn’t get into the specifics on why these 10 great reasons are in fact, well, Great Reasons.
If you would like your free copy of this article, written by Ric Edelman, author of “Ordinary People, Extraordinary Wealth” please email me.
jfrench AT silverstarfinance.com
silverstarfinance.com
Successfully,
Janet French
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