Mortgages are likely the largest debt a person will ever have. And with mortgage money typically being the cheapest type of debt, paying more money to the largest debt and the cheapest debt, is not the most economical approach for money management. It’s much smarter to pay off consumer debt carrying higher payments and higher interest costs than it is to spend more money on your mortgage loan. Also, when you pay off your home, you will lose your mortgage tax deduction that most folks get, and you will also still have monthly obligations consisting of property taxes and homeowners insurance. So paying less on your mortgage allows folks to save additional money for essentially rainy day funds, emergency reserves and avoid more expensive debt like consumer debt. Get educated about mortgage money management. Ask us how.