When you are young and prosperous and "TIME" is on your side, having a mortgage is fine. To have a mortgage simply because there are tax advantages, at whatever tax bracket you are in, is crazy. For example if you are in the 33% tax bracket and you pay $1000 in mortgage interest...you do recoup approx $330 from uncle sam..BUT YOU STILL PAID $670 for every $1000 in mortgage interest . HOw is that a bargain!! Billiethekid said to invest the money you woul use to pay down the mortgage..well again when times were prosperous and one could tax the ups and downs of the market that may have been a fine strategy just as the advice was 10-20 years ago to take as large a mortgage as possible. In todays world, NO thank you...I play the market but not with money for the house .......peace of mind..best return you can have!
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