8 Reasons Why You Don't Want to Pre-Pay Mortgage, But Should

"Sending in a little extra saves you a lot." That was my argument in last week's column about the beauties of mortgage prepayment. I showed you how by sending in just $50 extra per month on a $200,000 fixed rate mortgage of 7 percent, you will save $36,427 over the life of the 30-year loan. That's impressive, but there are still plenty of people who argue against mortgage prepayment. In these tricky economic times, I understand the fear. Who wants to pay extra toward a house if you're...Full Story