There's another interesting legal issue to consider about the mortgage and the house. That is if you get sued having a bond and a high mortgage means it is less money for people or businesses to attach. Just a thought. And as I'm sure someone has pointed out in the comments it's always better to have cash in the bank than to have it in your house has it's a lot harder to get a second mortgage loan when you are in trouble, as well as the fact that if you have the money invested the stock market seems to be going a lot better then 1/10 of 1% at a bank
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