Buyers Should Consider Prepaying Mortgage
Should home buyers with sufficient cash pay down their mortgages or put the extra money in investments or savings?
Financial experts say the choice depends on the home buyer's employment prospects, current savings, and investable assets.
If life looks a little uncertain, they advise putting the money in a safe place, like a savings account. But for people with more stable financial situations, paying down the mortgage can be a great investment, often providing a better return than a savings account.
Source: Washington Post, Ilyce R. Glink and Samuel J. Tamkin (02/27/2010
