15 vs. 30 Year Mortgage: Myths About Paying Off Your Mortgage

When it comes to paying off your mortgage, the 15 vs. 30-year mortgage question can stop you in your tracks.  Chances are, you’re probably trying to figure out how to get a better interest rate, pay less interest, or get out of debt sooner. But to make the decision that puts you in the most financial control, you have to fully understand what’s at stake.  And to do that, you have to peel back and peer under layers of pretty compelling myth and misinformation. https://www.youtube.com/watch?v=TK94hJDMgW4 It sounds harder than it is.  You just have to be willing to see things for what they are, ask questions, and challenge popular assumptions.  If that seems scary or hard or strange, when did taking the easy path of shortcut thinking ever create your finest moments? (Like never.)  Unfortunately, mainstream financial thinking has millions of Americans making decisions that take away their control.  There’s an unspoken rule that’s seeped into our psyche.  It’s that smart people pay off their mortgages quickly.  But could our bondage to what we feel we ought to do be turning our American Dream into our American nightmare?  In today’s conversation, we’ll uncover the biggest myths about paying your mortgage. We’ll show you why the focus on paying off your mortgage the quickest will handicap your cash flow and control.  After we’ve unpacked the facts, you’ll know with confidence and clarity what’s best for you and be able to make mortgage financing decisions without second-guessing yourself. Where Paying Off Your Mortgage Fits into the Cash Flow System Owning a home requires paying for it.  And paying for anything, no matter how you do so, affects how much of your money you keep. Making the best financing decisions increases your cash flow, so you have more to keep and put to work.  But no matter how much money you keep, it’s just one small part in the bigger picture of building time and money freedom. That’s why we have created the 3-step Business Owner’s Cash Flow System, your roadmap to take you from just surviving, to a life of significance, purpose, and financial freedom. The first step is keeping more of the money you make by fixing money leaks, becoming more efficient and profitable.  Then, you’ll protect your money with insurance, legal protection, and Privatized Banking.  Finally, you’ll put your money to work, increasing your income with cash-flowing assets. Paying your mortgage happens right here in The Money Finder step of your financial foundation.  When you find, recover, and keep more of the money you’re making, you put more gas into your cash flow machine. Where We Got the Idea That You Should Pay Off Your House Quickly Many Americans are so focused on paying off their mortgages for a variety of reasons, many of which they probably are not aware of. During the Great Depression,