My Parents Mortgage
My parents have ridden through several mortgage booms. The recent one allowed them to pay of their real estate loans much earlier than expected. Of course, with all the extra gains in equity due to the market booming, they were able to put a sizable down payment on their new home. My parents are old school and believe in paying off their mortgage. They are not in the club of believers that you will always have a mortgage payment. With half the house already paid off, they are aggressively working on paying the other half off as soon as possible!
