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Paid Off Mortgage is Equivalent to a…Perpetuity?…Bond?…Dividend Paying Stock?

In Financial Analysis, Mortgage Snowball by Gen Y Finance Guy25 Comments

Having a fully paid mortgage sure does get a bad wrap around personal finance circles. I constantly see arguments about money being super cheap and that paying off the mortgage will lead to a loss of the interest tax deduction. I won’t argue that rates are historically cheap and that eliminating your mortgage will lead to eliminating the tax deduction. …

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Murder Your Mortgage in 7 Years Q&A

In Mortgage Snowball by Gen Y Finance Guy29 Comments

Last month I published a post that detailed my strategy to pay down a 30 year mortgage that I only recently obtained last year. I will be the first to admit that it goes against the conventional wisdom and there have been two questions that have popped up consistently that I thought I would take some time to answer: Question 1: Why do …

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The Mortgage Snowball Strategy To Pay Your Mortgage Off In 5-7 Years

In Featured, Financial Freedom, Goal Setting, Mortgage Snowball by Gen Y Finance Guy70 Comments

In a previous post I mentioned that I had recently become debt free outside of the mortgages on my primary residence and investment condo. In that blog post I announced an outrageous goal of paying off the mortgage on my primary residence in 7.5 years. I gave you the cliff notes version of the strategy I devised to accomplish this big, hairy, …